I like to talk about investing and saving money. Often when I’m chatting with my friends or colleagues, people will tell me that they think money brings out the worst in people or that stock brokers are all crooks. Because of this, they don’t want to invest. As a result, they tend to miss out on the advantages of owning stocks and bonds.
So, in order to help our readers get over some of their reservations, I wanted to let people know that the FINRA (The US broker watchdog agency) has a free on-line broker checking service. All you really need is the name of the broker or the firm he or she works for. Since the FINRA is responsible for licensing brokers and arbitrating claims, they have up-to-date relevant information on misconduct by both investment firms and individual brokers.
So, before you hire someone to manage your money, check the FINRA!