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A Resource Center for Victims of Fraud

Helping to recover losses caused by investment misconduct

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How To Check Your Stockbroker’s Background

stockbrokerMost investors blindly trust a new stockbroker just because a close friend recommended him. Sometimes it is also because he seemed like a really nice guy at the time. It’s why a lot of consumers fall prey to stockbrokers who cause them to lose their retirement savings. Don’t let this happen to you!

Before you entrust your hard earned money to a stockbroker, investigate his background. Do this by visiting FINRA’s BrokerCheck website and the SEC’s Investment Advisor Public Disclosure website. These websites are open to everyone and they’re 100% free. Best of all, you’ll receive the results of your inquiry in less than five minutes. Indeed, they could be best spent five minutes of your life.

FINRA and the SEC’s web sites will tell you if your broker has a history of disciplinary actions, terminations, customer complaints or bankruptcy. You can also verify that your broker’s licenses are valid and current, learn about his employment history, and more.

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