The Importance of a FINRA BrokerCheck

man looking at numbers and charts

Have you ever considered investing your money? Not sure where to start when it comes to selecting a financial advisor? We get it. Choosing someone to help manage your finances can be difficult, and you want to be sure that the broker or company you choose is looking out for your best interests.

Unfortunately, some brokers, financial institutions, and companies have a history of unethical practices. If you intend on investing money, you want to be sure you’re protecting your finances. Performing a FINRA (Financial Industry Regulatory Authority) BrokerCheck can help you in your search.

Find a History of Unethical Behavior

By performing a BrokerCheck, you can find a broker’s history. If they’ve been reported for performing a Ponzi scheme or have any other regulatory actions, you can find this in the BrokerCheck report. You can also use the FINRA website to determine if any brokers have been barred by FINRA.

The BrokerCheck allows you to avoid any fiduciary that has a history of unethical behavior, protecting your investment in the process.

A Full Report On the Broker or Brokerage Firm

You can learn a lot about the broker or brokerage firm through the BrokerCheck report, including the following information:

  • Whether the broker or brokerage firm is registered with FINRA
  • Which exams the broker has passed
  • Up to date information regarding the broker or firm’s history

If a broker does not have specific information reported or they have information they are not required to report, it won’t appear on the BrokerCheck.

At Vernon Litigation Group, we know how difficult it is to deal with a broker who focuses more on unethical practices than your investments. Our Naples litigation attorneys will work on your behalf, going above and beyond to hold brokers or brokerage firms accountable when you need help the most.

Discuss your case with our dedicated team. Call us today at (239) 319-4434.

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