Attorney Jeffrey P. Coleman shows where to perform a background check on a broker before committing to doing business with one.
If you want to take a look at some of the background of a broker, a good thing to do is go on what’s publicly available through FINRA. FINRA was formerly known as the NASD and they have a website.
You can go to that website and look up a section called Broker Check, that will provide you with that particular brokers history, and if they’ve had other prior customer complaints, if they’ve had regulatory investigations, how long they’ve been employed, what firms they’ve been employed with…
These are all important things for you to know in selecting a broker that’s right for you and your family.