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How to Check a Broker’s Background

brokers background

What Is FINRA?

The Financial Industry Regulatory Authority (FINRA) is charged with the responsibility to maintain a marketplace for investors to engage in securities transactions in a regulated environment designed to protect the investing public. Federal law requires securities firms to register themselves and their representatives. FINRA regulates over 5,000 securities firms and over 660,000 registered representatives in more than 170,000 branches throughout the United States.

What is BrokerCheck?

FINRA established the BrokerCheck internet portal to provide the investing public with critical information about individuals who are registered representatives, commonly known as stockbrokers. The BrokerCheck portal provides stockbroker information concerning current licensing status, employment history and reported customer complaints. A record of any customer complaints is maintained which includes the date of the complaint, the alleged damages, and any awards or settlements made.

Visit the official FINRA BrokerCheck portal.

What Does the BrokerCheck Information Tell Me?

FINRA established the Central Registration Depository (CRD) System to maintain stockbroker records and provide this information to investors through the FINRA BrokerCheck portal. The FINRA BrokerCheck portal does not provide all the relevant information concerning the sales practices of a particular stockbroker or the branch office where he is located. For instance, BrokerCheck only includes reported customer complaints and provides no disclosure of any alleged claims, any settlements or awards made in an arbitration proceeding, unless the stockbroker was a named party.

How to Proceed with the BrokerCheck Findings

The FINRA BrokerCheck portal is a first a step and an incomplete investigation of your options. You need to consult with an experienced, competent and successful law firm to review your case and provide a professional legal opinion. How can I evaluate which law firm to contact? You can refer to the largest and most esteemed, Martindale-Hubbell® Peer Review RatingsTM Directory.

What is a Martindale-Hubbell® Peer Review RatingTM?

The Martindale-Hubbell Directory, first published in 1896, has a 140-year history of providing unbiased information to the public about the ethical standards and professional ability of attorneys. Rodriguez Tramont & Nuñez, PA received the Highest Rating (AV® Rating) given to a law firm.

Why Should RTN Be Your Choice to Represent You?

Rodriguez Tramont & Nuñez, PA has the trial litigation and securities arbitration experience, a track record of success, and a preeminent position in the legal community. These attributes will translate your story of investment mismanagement into a successful outcome.