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Representing Individual, High Net Worth & Institutional Investors

Office in Indiana


Home > Blog > Are you in a “Hot Spot” for Troubled-Brokers?

Are you in a “Hot Spot” for Troubled-Brokers?

Last week we posted a blog titled Elderly Primary Target for Troubled Brokers. Within that blog it discussed parts of the United States that are “Hot Spots”, where these brokers with troubled regulatory records tend to cluster, often among people 65 and older. A good place to check and see if your broker is troubled is by visiting the BrokerCheck website run by FINRA. This site shows if your broker has any red flags, such as complaints, regulatory actions, or even recent bankruptcies. FINRA’s BrokerCheck sometimes has brokers fall through the cracks though, so make sure you investigate your broker before trusting them with you hard earned money. If you’ve been invited to a FREE meal by a broker, they may give good advice. FINRA warns investors to be careful if attending these events, because you may face a hard sell and be bullied into a  follow-up meetings with the broker.

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