How to Choose a Stockbroker or Financial Advisor

Reno, NV Attorney serving Nevada & California

Share:

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, Thomas C. Bradley offers 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 http://www.nasaa.org/about-us/contact-us/contact-your-regulator/ 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.

FINRA Broker Check

http://brokercheck.finra.org/

Learn more about what to look for when choosing a professional to manage your investments by calling (775) 323-5178. Contact stock broker fraud attorney Thomas C. Bradley, serving San Francisco, Sacramento, Oakland, California and Reno, Nevada, today for your free legal consultation.