This Business Is Not BBB Accredited

Michael P. Bean & Associates, Inc.

Michael P. Bean & Associates, Inc.

(614) 794-3331

Michael P. Bean & Associates, Inc.

36 years in business
1269 Crooked Tree Ct
Westerville, OH 43081-3252
Fax Numbers
  • (614) 794-3580
BBB File Opened: 02/01/1981
Business Started: 01/01/1982
Business Incorporated: 02/25/1983 in OH
Type of Entity
Corporation
Business Management
  • Mr. Michael P Bean, President
Business Category
  • Diamond Buyers
  • Business Brokers

Additional Information
  • BBB advises consumers to be skeptical if an investment opportunity sounds too good to be true. Very few investments offer a guaranteed return on the money you invest, and many involve significant risk. Even if an investment has performed well in the ...
  • BBB advises consumers to be skeptical if an investment opportunity sounds too good to be true. Very few investments offer a guaranteed return on the money you invest, and many involve significant risk. Even if an investment has performed well in the past, it may not continue to perform as well in the future. Finding a qualified and trustworthy investment adviser involves checking credentials as well as interviewing several potential advisers to find one you can work with over time.

    BBB advises consumers to take the following steps to find an adviser:

    Ask for referrals from friends, but check the adviser out with the BBB at bbb.org before you hire anyone.

    Check credentials. What certification does the adviser hold? The financial industry offers a wide variety of certifications, including certified financial planner or registered investment adviser, for example. Ask whether the certifications the adviser holds were obtained through an accredited organization. Does the adviser belong to a professional organization that requires members to adhere to a code of ethics?
    Who does the adviser work for? Does the adviser work for a well-known firm or is he or she operating independently? What is his or her experience? Does the organization have a physical location and appropriate licensing?
    How is the adviser paid? Does the adviser work for a fixed fee, a commission or does he or she get a percentage of what is sold? A trustworthy adviser should be able to explain his or her compensation to investors.
    Be wary of promises. Very few investments offer guaranteed returns, and many involve significant risk. An adviser should be able to explain the risks as well as potential rewards of the investments he or she is selling and match your risk tolerance to appropriate investments.
    Check accessibility. How will the adviser communicate with you after the sale? Will he or she be available, and will you get regular statements about your investments? Make sure you check those statements when you get them.

    The investment industry and government agencies offer a plethora of tools and advice for investors, too. One useful tool is Brokercheck, a service of the Financial Industry Regulatory Authority. The tool can tell you whether an adviser is registered and whether he or she has been subject to any government action or discipline as well as listing an adviser’s work history.

    The Consumer Financial Production Bureau, a relatively new government agency, also takes complaints against financial industry professionals and companies and has important information on investing. It recently published a report on preventing senior financial fraud, Money Smart for Older Adults

Products & Services
investment quality diamonds
Methods of Payment
  • Personal & Cashiers Check

B+

Advertising Review

On July 8 and July 9, 2015, BBB contacted the business regarding two of its' website claims: "Do I actually receive the diamond(s) I purchase? A: Yes, your diamond(s) will be shipped directly to you" and "When your diamond is submitted for remarketing after 36 months, 85% of the current price at the time of tender is paid to you."  

The ad failed to state the investor may choose not to have the diamonds shipped to them, and the ad fails to clearl... Read More

Overview

Diamond brokerage firm

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BBB Reason for Ratings

BBB rating is based on 13 factors: Get the details about the factors considered.

Factors that affect the rating for Michael P. Bean & Associates, Inc. include:

  • Advertising issues found by BBB

Licensing information is provided in the BBB Business Profiles to inform the public about industries that may require professional licensing, bonding, or registration. Better Business Bureau encourages you to check with the appropriate agency to be certain any requirements are currently being met.
BBB promotes truth in advertising by contacting advertisers whose claims conflict with the BBB Code of Advertising. These claims come to our attention from our internal review of advertising, consumer complaints and competitor challenges. BBB asks advertisers to substantiate their claims, change ads to make offers more clear to consumers, and remove misleading or deceptive statements.
BBB reports on known significant government actions involving the business's marketplace conduct.
BBB reports on a company that is out of business for one year from the date the company closes its doors or ceases to do business.
BBB reports on unauthorized use of the Better Business Bureau's name and/or logo for as long as the business continues to use it in any advertising, or for one year after the business ceases any repeated unauthorized uses.
BBB reports on a business’s bankruptcy as long as the business remains in bankruptcy.
BBB reports when mail sent to the business was returned by the Postal Service.

Michael P. Bean & Associates, Inc.

This Business Is Not BBB Accredited

Michael P. Bean & Associates, Inc.

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