Looking for a broker? Make sure you check FINRA first. FINRA, the Financial Industry Regulatory Authority, has a tool to help you with your due diligence. It’s called BrokerCheck. This database contains background information on about 1.3 million FINRA registered brokers and 17,400 FINRA registered brokerage firms.
- Use BrokerCheck to find out if your broker or investment adviser representative is licensed in your state to conduct business.
- Find out if they have been sanctioned by securities regulators for violations of investment-related regulations or statutes.
- Review credentials
- Check for customer disputes and disciplinary actions.
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