FINRA oversees the people and firms that sell stocks, bonds, mutual funds and other securities. Simply type in your current or prospective broker’s name to see employment history, certifications, and licenses—as well as regulatory actions, violations or complaints you might want to know about. You also can get information about your broker’s firm. There’s no reason not to check.
BrokerCheck can tell you…
Individuals and firms can be registered as brokers or investment advisers—or both. Individuals with these designations have particular knowledge and take on legal responsibilities. Individuals and firms must be registered with FINRA (for brokers), the SEC (for certain investment advisers), and in those states where required by law.
From the time they register—and throughout their careers in the securities industry—individuals and firms must inform FINRA if certain events occur; these events include regulatory actions, criminal convictions, and for brokers, customer complaints.
BrokerCheck provides an overview of a broker’s work history, as well as brokerage firm history.
Brokers and investment advisers are qualified to perform certain tasks for clients, based on the exams they have passed and state licenses they hold. Individuals and firms must register in each state where they have customers.