With all the advertisements in newspapers, television, the Internet, and magazines, we are all familiar with the likes of Bernie Madoff and R. Alan Stanford. The two "financial advisors" were accused of billing their clients with USD 60 billion and USD 10 billion, respectively.
Are there some steps you can take to protect yourself? Yes, including these steps, can guarantee that your financial advisor will continue to be honest. You can easily get in touch with the most reliable financial advisor by clicking at:
Image Source: Google
If you follow these steps, you will be better protected in choosing your financial advisor and will not end up like Madoff and Stanford:-
Discuss the names of your trusted advisors with friends, relatives and colleagues. Referrals from other people are the best way to get financial advisor names. Once you have a name, start with step one.
Your first step is to visit finra.org, a public organization that monitors financial advisors and brokerage firms. FINRA stands for financial sector supervisory authority. It was formed in 2007 with the consolidation of the National Association of Securities Dealers (NASD) and the New York Stock Exchange Arbitration and Law Enforcement Division.
On the FINRA website, go to the Investors tab and click the FINRA Broker Check tab. That way, you can verify both the advisor and the brokerage firm that the financial advisor is affiliated with.
If there are problems or complaints with a particular advisor or broker, they will be listed here. You have to do this first, even if the wizard is aimed at you. Do you remember Bernie Madoff and R. Alan Stanford? They run their business only by reference.