<prompt> Human: I remember reading yesterday or a few days back a question regarding a mortgage loan. Essentially, the idea on the front page was that floating rate loan means your interest payments are fixed to LIBOR rates or something else agreed upon percentage was a great idea for some user despite people not knowing their age, the principle, time horizon, goals, etc. Im not here to argue that post though it may not have been appropriate advice given what is likely to happen with the FED discontinuing asset purchases in Oct. But what really concerns me is the providing of financial advice that is coming from probably a lot of people that have no financial background. For an analogy, I think many on Reddit would agree that we do not ask random people for advice regarding our health. In this light, I do not think it is appropriate for people to go on here to provide advice regarding wealth without a type of verification such as what we see in the science subreddits. I really would like a push for the subreddit to verify the credibility of who is giving advice. Something like if you hold at least a CFP Certified Financial Planner or CFA Chartered Financial Analyst designation. Or some other way of ensuring that you work in the field.I really believe that Reddit offers an opportunity to offer advice to people financially without any direct compensation. The best advisors work with the wealthiest people, considering that, this can offer a platform where it is possible to help all economic classes of people with out a monetary incentive. With that in mind, I would hope the people giving their advice know what they are talking about. I have been on this subreddit plenty and I can assure that many do not though some give phenomenal advice and major thanks to you for helping people and making the industry better.Or nvm, have some asshole tell you to invest in some vangaurd or fidelity fund just because they think its a good idea. Not meant to be a slight at those firms. They offer some great products, but its about which one you pick given your specific goals and unique situation.We need to have proper advice and it needs to be done in the right way, otherwise I am truly scared that the subreddit has more potential to hurt people rather than hurt them.Im gonna go back to sipping my malibu rum and wonder why I wrote this and hope that no grammar errors came about.  <response>: Much like relationship advice subreddits are not populated by licensed counselors and therapists, this subreddit is not about getting professional advice but crowdsourcing advice from non-professionals.In other words, it is the online version of asking your friends, neighbors, and relatives for their advice on matters. However, there is the added benefit that this advice is all public, which means people can use voting or directly rebut what they see as incorrect advice. Also, the average adviser on this subreddit is likely more capable than asking your real life social circle, since they tend to be a subset of people who care more about finances. 