FINRA BrokerCheck — How to Use the Broker Checking Tool

This is an educational and informational guide — it is NOT legal, tax, medical, or financial advice. Data may be outdated — always verify on the official site and with a licensed professional.

Introduction / Who is it for

If you plan to invest your savings or use a broker's services, it is important to ensure that you are choosing a trusted professional. FINRA BrokerCheck is a tool that allows you to verify brokers and investment firms in the United States. In this guide, you will learn how to use this tool to check employment history, client disputes, and regulatory actions related to a specific broker.

How does FINRA BrokerCheck work?

FINRA BrokerCheck is a free service that provides users access to information about brokers and investment firms. You can search for both individual brokers and entire firms. This tool collects data from various sources, including business activity reports, client complaints, and regulatory actions.

How to search for brokers in BrokerCheck?

To get started, visit brokercheck.finra.org. Here are the steps to follow:

1. Enter the broker's first and last name in the search box.
2. Select whether you want to search for an individual (broker) or an investment firm.
3. Click “Search” and browse the results.

What to check in the search results?

After searching for a broker or firm, pay attention to the following information:

• Employment history: Check where the broker has worked in the past and what experience they have.
• Client disputes: See if there have been any complaints or disputes related to the broker.
• Regulatory actions: Ensure that the broker has not had serious issues with regulatory authorities.
• Licenses: Check if the broker is currently licensed to conduct investment activities.

Common mistakes

• Not checking the broker's employment history before making a decision.
• Ignoring client complaints and disputes.
• Not paying attention to regulatory actions.
• Failing to verify the broker's license.

What next?

1. Use FINRA BrokerCheck to check your broker.
2. Carefully analyze the search results.
3. If you have doubts, consult a licensed financial advisor.
4. Consider talking to other investors or looking for online reviews about the broker.

Sources

For more information, visit FINRA BrokerCheck.