Checking Out a Brokerage Firm, Individual Broker, Investment Adviser Firm, or Individual Investment Adviser
Feb. 14, 2012
Information about brokerage firms and individual brokers is publicly available online through FINRA’s Broker Check program and by calling toll-free at (800) 289-9999. Information about certain investment adviser firms is available through the SEC’s Investment Adviser Public Disclosure (IAPD) Program. Information about brokerage firms, individual brokers, investment adviser firms and individual investment advisers also is available through each state’s securities regulator. Details on how to get in touch with a state’s securities regulator are available through the North American Securities Administrators Association, Inc.'s website.
FINRA’s BrokerCheck Program
Information on brokerage firms. FINRA’s BrokerCheck Program provides the following information on brokerage firms:
- A summary report that provides an overview of the firm
- A profile of the firm’s ownership
- A firm history, including any mergers, acquisitions or name changes
- A description of the firm’s operations, listing its active licenses and registrations, the types of businesses it conducts and other details
- Arbitration awards and any regulatory or disciplinary events on the firm’s records
Information on individual brokers. BrokerCheck provides the following information on individual brokers:
- A summary report that provides an overview of the broker and his or her credentials
- A listing of the broker’s qualifications, including current registrations or licenses and industry exams that the broker has passed
- Previous employment data for the past 10 years, both in and outside the securities industry, as reported by the broker
- Any customer disputes or regulatory and disciplinary events on the broker’s record.
The SEC’s IAPD Program
The IAPD Program provides information about both SEC- and state-registered investment adviser firms. The SEC typically regulates investment advisers that manage more than $100 million in assets. Advisers that do not meet this threshold generally are regulated by the states.
Through the IAPD, investors may:
- Search for an investment adviser firm
- Check the adviser’s registration status
- View the adviser’s current disclosures made through its Form ADV filing
- Link to a state regulator’s website
- Link to the FINRA BrokerCheck website.
Investment adviser firms that have not registered with the SEC electronically will not appear on the IAPD page. If you do not see a firm listed through IAPD and you want to check the firm’s registration status, contact the SEC at (202) 551-6825 or the appropriate state securities authority through http://www.nasaa.org.
Information on individual investment advisers is available through state securities regulators.