Financial Advisor Background Check
Financial Planner Background Check |
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Stock Broker Background Check |
According to a Boston-based research firm, few years ago only about 25,000 people called themselves financial planners. Today the number of people calling themselves financial planners is more than 650,000. These days it is easy for anyone to call themselves a financial planner. Sales people employed by banks are called "personal financial consultants", brokers are "financial planners"; insurance salesmen are "financial advisers. According to the Consumer Federation of America's director of investor protection, Barbara Roper, the majority of people who market themselves as financial advisers are salespeople,. How can you make sure you are hiring a qualified professional? You can start by thoroughly checking a Financial Planner or Stock Broker's background.
Abika.com helps you with background checks on Financial Advisors and Stock Brokers. Information provided generally search: If the broker or advisor is properly licensed in your State. If they had any run-ins with regulators or received serious complaints from investors. Their educational background and where they've worked before their current job. Is the Firm that the Broker or Advisor works for member of SIPC? Any Complaints, Rumors, Awards, Liens, Judgements and Bankruptcies Check, 20 Year Address History, Statewide Criminal History Check
*Optional Success history of the Financial Advisor and/or Broker.
Success history includes the percentage of clients who have lost money during any full calendar year.
Why should you Checkup a Financial Advisor and/or Stock Broker?
Financial planners help you plan for your financial goals and retirement. They help you plan and advise you in areas such as investments, stocks, bonds, insurance, taxes, wills, trusts, and mortgages. One should select a Financial planner based on the assumption that financial planning is a life long activity. Check to see if they are certified by CFP Board. The Certified Financial Planner (CFP) and certification marks are financial planning credentials awarded by the Certified Financial Planner Board of Standards Inc. to individuals who meet education, examination, experience and ethics requirements. Certificants are required to adhere to the CFP Board Code of Ethics and Professional Responsibility and to the Financial Planning Practice Standards. The CFP Board has the right to enforce them through its Disciplinary Rules and Procedures. Stock brokers help you buy and sell stock and other securities. If you do business with an unlicensed securities broker or a firm that disappears or goes out of business, you may encounter losses and even if a court or an arbitrator rules in your favor there could be no way for you to recover your money.
Federal or state securities laws require brokers, advisers, and their firms to be licensed or registered, and to make important information public. But it is up to you to search that information and use it to protect your investment dollars. This information is searchable, and an exhaustive search may save you from sending your hard earned money to a bad broker, con artist or disreputable firm. Before investing, make sure that your brokers, investment advisers, and investment adviser representatives are licensed to sell securities. It is always a good policy to check if they or their firms have had any type of run-ins with regulators or other investors.
How do I choose a Financial Planner or Stock Broker?
You should choose a financial planner or stock broker in the same way that you would choose a doctor, dentist, accountant or anyone who provides services. In many ways the process is similar to how you would choose any product. It is always a good policy to comparison shop and check the experience and credentials of different financial planners or stock brokers. It also helps to get recommendations from other clients of the financial planner or stock broker, your boss, co-workers, friends and family. Ask the financial planner or stock broker as to why you should retain them? Choose a financial planner who specializes in your financial situation and who can understand your needs and requirements. One way to judge the competence of a financial planner is by the amount of time he / she has devoted to keeping up with changes in the market, investment environment and financial regulations. Reviewing the past performance does help but it is not always a predictor of the future. Remember your financial well being could depend on the competency of your financial planner.
Screen Financial Advisor Stock Broker |
This report provides background information on Financial Advisors and/or Stock Brokers.
Success history includes the percentage of clients who have lost money during any full calendar year.