Saturday, April 11, 2015

Check Out your Financial Advisor - Before You Invest!

 The U.S. Commodity Futures Trading Commission (CFTC) has created a website to help people check the registration, license, and disciplinary history of financial professionals. This website is called CFTC Smartcheck and it describes 6 steps to take before making an investment, including:
  • Determine if your financial advisor is registered with the CFTC or the NFA, using the website's BASIC search tool.
  • Use the BrokerCheck tool to see if the financial professional is registered with the SEC or FINRA.
  • Check to see if the professional has a CFTC disciplinary history.
 In addition to these search tools, the Smartcheck website has investor news, tips to avoid fraud, and interactive videos about common investment scenarios. You can also report any sketchy offers or shifty sales tactics as a confidential tip here.

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