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Why You Need to Check Your Broker’s CRD

Whether you are a seasoned investor searching for a new financial advisor or are new to investing and interested in working with a stockbroker or financial advisor who can advise you accordingly, it is critical that you take an interest in potential financial advisors’ experience. 

A good way to do this is by reviewing your financial advisor’s Central Registration Depository (CRD). Continue reading to learn more about what a financial advisor’s CRD contains and what steps you might take if your advisor has an unscrupulous history.

What Is the Central Registration Depository?

The CRD and FINRA‘s Brokercheck system contain many pieces of critical information about registered stockbrokers and financial advisors across the country. 

Not only will Brokercheck and the CRD contain information about previous disclosures, complaints decisions about these disclosures, where the broker has previously worked, how long they have been registered, and other pertinent information, there are also records that show any criminal and civil activity that the broker in question may have been the subject of.

As an investor, it is critical that you have a complete understanding of the financial advisor who will be handling your funds. You need to be able to trust your stockbroker. 

Irresponsible or reckless stockbrokers can often cause significant stock losses, which could have a dramatic impact on your life. By keeping a close eye on the CRD, you will have a better chance of avoiding financial advisors who may ultimately cause you to lose money.

What to Do if You Find Disclosures on Your Financial Advisor’s CRD

There are a few different options you have if you are unhappy with the information that you find on your stockbroker’s CRD and Brokercheck records. It really depends on what your previous relationship is, if any, with the financial advisor. 

If you have a long-standing relationship with the broker, you may want to speak with your lawyer about what the best path is for you. It may or may not be in your best interests to discuss your concerns with your broker, particularly if you have also noticed activity in your accounts that is a cause for concern. 

However, if you are simply shopping for a financial advisor and their CRD or Brokercheck records are less than stellar, it may be a better option to continue your search and find one who does not have prior disclosures, criminal activity, or civil claims brought against them. Keep in mind that ultimately you want to be able to trust that your investor is always going to prioritize your financial interests over their own.

Contact a Respected FINRA Arbitration Lawyer

If your financial advisor has misled you, taken advantage of you, or otherwise caused substantial investment losses, you may be able to recoup these losses by working with an experienced FINRA arbitration lawyer at Wolper Law Firm. You can give our office a call at 800-931-8452 or fill out the quick contact form below when you are ready to schedule a free consultation with our team.

Now is the time to talk to an investment loss recovery lawyer. We can help recover your investment loss. Free consultations, always.

Main Office - Fort Lauderdale

1250 S. Pine Island Road
Suite 325
Plantation, FL 33324
Phone: (800) 931-8452
(954)-406-1231

We represent clients nationwide, including, but not limited to: Miami, Boca Raton, West Palm Beach, Sarasota, Tampa, Stuart, St. Petersburg, Vero Beach, Orlando, Jacksonville, Austin, Houston, Dallas, Washington DC, Charlotte, Boston, Baltimore, Phoenix, Scottsdale, Las Vegas, Los Angeles, San Diego, San Francisco, Chicago, Seattle, Portland, Denver, Salt Lake City, Fargo, Atlanta, Little Rock, Newark and St. Louis

Additional Office Locations (by appointment only)

Atlanta

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Suite 7
Atlanta, GA 30326

Indianapolis

13295 N. Illinois St.
Suite 314
Indianapolis, IN 46032

New York City

275 Madison Avenue
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New York, NY 10016

Dallas

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Suite 400
Dallas, TX 75201

Irvine

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Suite 1700
Irvine, CA 92612

Portland

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Suite 205
Portland, OR 97220

Denver

7900 E. Union Ave.
Suite 1100
Denver, CO 80237

Naperville

1700 Park Street
Suite 103
Naperville, IL 60563

Seattle

1001 Fourth Ave.
#3200
Seattle, WA 98154

We represent clients nationwide, including, but not limited to: Miami, Boca Raton, West Palm Beach, Sarasota, Tampa, Stuart, St. Petersburg, Vero Beach, Orlando, Jacksonville, Austin, Houston, Dallas, Washington DC, Charlotte, Boston, Baltimore, Phoenix, Scottsdale, Las Vegas, Los Angeles, San Diego, San Francisco, Chicago, Seattle, Portland, Denver, Salt Lake City, Fargo, Atlanta, Little Rock, Newark and St. Louis