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Lane
Lane, JD, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 4022
Experience:  Providing Financial, Tax & Business advice since 1986
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How can one check on the reliability of a financial brokerage

Resolved Question:

How can one check on the reliability of a financial brokerage firm?
Submitted: 1 year ago.
Category: Finance
Expert:  Lane replied 1 year ago.

Hi, this is the SRO, FINRA, that keeps all data on brokerage firms.

Here's their "Broker Check" web-site.

http://www.finra.org/Investors/ToolsCalculators/BrokerCheck/



Hope this helps,

Lane

Lane, JD, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 4022
Experience: Providing Financial, Tax & Business advice since 1986
Lane and other Finance Specialists are ready to help you
Expert:  Rakhi Vasavada replied 1 year ago.
Dear Friend,

I have got something more to add from what the above expert had suggested. Apart from what he has already suggested, there are also some more points that should be looked into which directly addresses the reliability of your broker.

Reliability --- It is one of the most important aspects of any broker. You need to check the reliability of the broker. The reliability of the broker can be checked and gauged by various checks and balances. Before signing on the dotted line with any broker, you must check his track records in servicing the existing clients as well as the timely payments of the extra funds lying with the broker. Timely services and timely payment record can tell the seriousness and approach regarding the business.

Also, It is imperative for you to check the products offering the broker before signing to the broker. The broker should at least have online and off line stock trading, online IPO and online mutual funds services. If the broker has other financial services such as insurance, portfolio services and bonds etc. these are beneficial.

You also need to see if the broker has efficient online trading platform and ALSO offline platform that serves as a backup.

I hope this helps...

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Warm Regards,
Expert:  Lane replied 1 year ago.

 

 

Thank You for the feedback.

 

 

 

 

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…pleasure working with you!

 

 

Lane

 

 

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