Updated on February 3rd, 2014: Many times government report-type websites can be confusing. On accessing the below main site be sure to go through all pages on the “Disclosure Report” shown to the left column of the actual first page. Many times, one incident of a “Termination” or “One Dispute” can represent only the tip of the iceberg of the broker’s history. One can be sure, many times there have been numberous other incidents where the complainants were “paid-off” or better yet the company itself that the broker represents, are in on “The Take or Scam” of the investor. Another site to double-check the broker is the government site: http://adviserinfo.sec.gov .
Many investors in this market tend to forget that Stockbrokers registered with the security exchange made their money by “trades.” Many times investors are lead down the “Primrose Path” by their brokers. To them, it is all about the money. This is proved out by the crash we had in stock market in 2008. To this day, the thousands of brokers who were responsible for this, have not been prosecuted.
Fortunately the investors of McKinney, Texas have the opportunity to check out the reputation of their brokers thru a no cost, open records site that renders information on the work history of local brokers, as well as charges that were brought against them for fraud. Sadly, many of these brokers are still functioning as such in the market place. Many of them should have had their licenses revoked long ago.
There is no doubt “In The Know” that currently brokers are not preparing their clients for the coming crash of the market. Rather with numbers bettering the 16,000 mark, their clients are encouraged to stay in the market, generating further trades.
Checking out the reputation of your own broker can bring forth many “Red Flags.” Termination from a previous employer because of a fraud ridden transaction is a major cause for concern, regardless of the explanation given by a said broker. Additionally, just “Googling” a brokers name, many times will bring forth many other charges pending against said brokers. Protect yourself today and check out your local broker. Simply check off the terms on the following link, there is no charge for this service, type in the brokers name, and read on, with what will be in some cases, very disturbing information: http://brokercheck.finra.org