FINRA BrokerCheck is a free, online tool designed to empower individuals with the necessary information to research brokers, investment firms, and financial advisers. Through BrokerCheck, you can gain insights including descriptions of firms, services offered, credentials, sanctions, and registrations which are critical during the selection and thorough assessment of financial advice providers or brokerage firms. As the largest non-governmental securities firm regulator in the United States, the Financial Industry Regulatory Authority (FINRA) administers BrokerCheck, drawing data primarily from the Central Registration Depository (CRD) and the Securities and Exchange Commission’s Investment Adviser Registration Depository (IARD) databases. ### Key Takeaways - FINRA BrokerCheck is your go-to, free online resource for detailed information on brokers, investment firms, and financial advisers. - FINRA is the foremost non-governmental regulatory entity for securities firms in the United States, governing over 3,380 firms, 150,650 branch offices, and more than 620,850 registered representatives. - Detailed records regarding professional histories, qualifications, and any indiscretions are available to aid your investment decisions. ## Dive Deeper into the Power of FINRA BrokerCheck FINRA BrokerCheck is not just a database; it’s a key resource providing information on approximately 3,380 brokerage firms, 150,650 branch offices, and over 620,850 registered representatives. Peek into a firm’s history, uncover past indiscretions, and discover popular choices among investors. ## What Information Does FINRA BrokerCheck Provide? With BrokerCheck, detailed information is at your fingertips: - Brokers: Reports include summaries of credentials, qualifications, registrations, employment history, and disclosures regarding criminal, regulatory, civil judicial, or customer complaint activities. - Investment Firms: Learn about a firm’s history, leadership, ownership, mergers, business engagements, and any disciplinary actions or financial matters. Note that BrokerCheck does not disclose information not provided to the CRD, nor does it include personal or confidential data or liens. ## Enhance Your Research with Additional Resources Besides BrokerCheck, enrich your research by consulting resources provided by state securities regulators who may scrutinize brokers or advisers at the state level too. FINRA offers additional databases featuring arbitration awards and disciplinary actions. ## How Frequent is BrokerCheck Updated? Professional and disciplinary information in the CRD must be updated within 30 days by registered brokers and firms. Such updates are quickly reflected in BrokerCheck, typically by the next business day. ## What If My Broker Has Complaints Listed on BrokerCheck? Be mindful if your broker has complaints registered. Assess the amount, time period, and nature of the complaints. Even if some allegations are found to be meritless, it’s best to scrutinize how specific mistakes like unauthorized trading are addressed within the comments section you’ll find corresponding to the complaints. ## How to Request a BrokerCheck Report? Asking for a BrokerCheck report is easy and free. Reports can be acquired online, via phone, fax, or mail. If opting for mail, FINRA collects personal details for the process. Invest Confidently With FINRA BrokerCheck — Stay Informed, Stay Secure.
Related Terms: FINRA, broker, Central Registration Depository, Investment Adviser Registration Depository, investment firms.
References
- Financial Industry Regulatory Authority. “About BrokerCheck”.
- Financial Industry Regulatory Authority. “2023 FINRA Industry Snapshot”. Pages 2, 13, 16.
- Financial Industry Regulatory Authority. “BrokerCheck FAQ”.
