Don't Skip This: Check Your Financial Advisor's Background

Описание: How do you know who to trust?

See how to check a financial advisor’s background before you invest. Learn about criminal events, suspensions, regulatory action, and more.

You need to trust your financial advisor. Not only does this help you sleep at night, but having a financial advisor or financial planner you can trust might help to protect your money.

But how do you get the information you need? There are several options, including regulatory databases, boards and certification bodies, and good old online searches.

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We’ll look at the main sources for information about financial advisors.

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Remember that simply being an honest financial advisor is a start, but it's not sufficient for finding a great financial advisor. You also need to verify that there’s a good fit. You can learn a lot by interviewing a financial advisor and reviewing their products and services.

After a thorough review, you can be more confident that you’re signing up with a reputable advisor. But keep in mind that you can’t uncover everything in advance—not all problems appear in disclosures and databases, and there's a first time for everything.

Even if you follow these steps, you might still be dissatisfied or even find yourself tangled up with a dishonest advisor. Plus, anybody can have a bad day (or bad year). All you can do is improve your chances before you make the leap.

RESOURCES:
Questions to Ask a Financial Advisor:    • Crucial Questions to Ask Financial Advisor  
Brokercheck: https://brokercheck.finra.org/
IAPD: https://adviserinfo.sec.gov/

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CHAPTERS:
0:00 Don't Get Surprised
1:02 Does Word of Mouth Work?
1:32 Regulatory Search Tools
4:37 Search Tips: Designations, Insurance, News
6:12 Interview Your Advisor

IMPORTANT:
You cannot uncover all potential problems with a financial advisor or a firm in advance. There is always risk when trusting somebody else. It's impossible to cover everything you need to know in a video like this. The only thing that's certain is that you need more information than this. Always consult with a CPA before making decisions or filing a tax return. This is general information and entertainment, and is not created with any knowledge of your circumstances. As a result, you need to speak with your own tax, legal, and financial professional who is familiar with your details. This video is not a substitute for individualized, personal advice. Please verify with your plan administrator when employer plans are involved. This information may have errors or omissions, may be outdated, or may not be applicable to your situation. Investments are not bank guaranteed and may lose money. Opinions expressed are as of the date of the recording and are subject to change. “Likes” should not be considered a positive reflection of the investment advisory services offered by Approach Financial, Inc. The Comments section contains opinions that are not the opinions of Approach Financial, Inc., and you should view all comments with skepticism. Approach Financial, Inc. is registered as an investment adviser in the state of Colorado and is licensed to do business in any state where registered or otherwise exempt from registration.