What You Don't Know About a Broker Can Hurt You
Make sure the broker who's pitching your business doesn't have a rap sheet.
If you're looking for a new broker, you'd be crazy not to check Finra's BrokerCheck website. Before your next broker gets his or her hands on your money, you'll be able to see if the broker has faced any regulatory actions or has a criminal record or liens or customer complaints against him or her.
But BrokerCheck shouldn't be all the research you do, because brokers are very good at finding ways to expunge complaints from their records. And sometimes brokers just don't disclose everything they should.
This article was written by a staff member of TheStreet.
