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Looking for a Broker? Check BrokerCheck.

by Gregor Smart

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.
also, from the U.S. Securities and Exchange Commission:
Checking Out a Brokerage Firm, Individual Broker, Investment Adviser Firm, or Individual Investment Adviser

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