What is BrokerCheck?

Oct 16, 2015
Author: Scott Hanson

advisor_compensationOver 300,000 people in the United States call themselves financial advisors. But what exactly does that title mean?

An advisor can be anyone from a person who is licensed to sell insurance products, to a stockbroker, to a CERTIFIED FINANCIAL PLANNER™ (CFP®), and everything in-between.

So, who is best qualified to give you financial advice? What certifications do they have? And, most importantly, do they have liens or legal issues in their personal or professional life that you should be aware of?

With so much uncertainty, it’s not surprising that the public is wary. The fact is, you should be.

Most people will benefit from professional, credentialed investment planning and retirement preparation advice. But where do you look for it, and how do you know that the person you choose to work with is going to have your best interests at heart?

A great place to start is by searching the website, BrokerCheck, at: http://brokercheck.finra.org/Search/Search

FINRA, the Financial Industry Regulatory Authority, is an independent regulator for firms doing business in the United States. You simply go to their BrokerCheck website, listed above, enter the name of the person you’d like to research, and pretty quickly you’ll be on our way to finding out if that individual has any complaints or disciplinary actions pending against them.

Your future and your financial wellbeing are important, and you simply can’t afford to make the mistake of working with the wrong types of people. Whether it’s an advisor at Hanson McClain, or any firm, anywhere, I encourage you to take the time to do some research and find out if the person you are interviewing to become your advisor is someone you should be trusting with your future.

Lies, Levies & Lawsuits - What Your Advisor Doesn't Want You to Know image

Related Topics:

Share This Post: