Hot Topics and Class Actions
How to Choose a Stockbroker or Financial Advisor
Serving California and Nevada: San Francisco, Sacramento, Oakland, San Jose, & Reno
When choosing a stockbroker or financial advisor to guide you through smart investment choices, you should look for an individual with experience, expertise and integrity. Your stockbroker should show a genuine interest in your financial welfare and express a sincere desire to help you achieve your financial goals. To find a stockbroker who suits your needs, I offer the following tips for finding a trustworthy advisor:
- To find a good broker match, first create an outline of your financial goals
- Compare and contrast firms and talk to several representatives. Ask questions.
- Make sure to ask about education, experience and credentials
- Check the National Association of Securities Dealers hotline at (800) 289-9999 to make sure a brokerage house or representative is clear of disciplinary action.
- Check www.nasaa.org/about_nasaa/2062.cfm to verify that a sales representative you are dealing with is licensed
Investigate full-service and discount brokerage firms to determine which would better suit your needs.- Ask about all charges - what do they charge to open an account, close an account, make trades, and what commissions does the stockbroker receive.
- Check www.sipc.org and ask if the firm is a member of the Securities Investor Protection Corporation, an insurance company designed to cover investments in the event of insolvency.
- Take your time. It is important to consider all your options before signing a customer agreement with a specific firm.
- Be wary of high pressure sales pitches that push immediate action, guarantees, or investments that sound too good to be true.
NASD Broker Check
http://www.nasd.com/web/idcplg?IdcService=SS_GET_PAGE
&ssDocName=NASDW_005882&ssSourceNodeId=469
Learn more about what to look for when choosing a professional to manage your investments. Contact stock broker fraud attorney, Thomas C. Bradley, serving San Francisco, Sacramento, Oakland, California and Reno, Nevada, today for your free legal consultation.
