Call Now For a Free Consultation:
(614) 532-4576
Nationwide Representation

A New Study Shows Why Investors Should Use FINRA Brokercheck

Many investors are unaware that they can lookup information about their financial advisor’s regulatory and customer complaint history by going to FINRA’s BrokerCheck website at A new study by business school professors at the University of Chicago and University of Minnesota underscores the importance of investors using BrokerCheck before working with a particular financial advisor.

The study, entitled “The Market For Financial Adviser Misconduct,” found that 7 percent of financial advisors have been disciplined for misconduct that ranges from putting clients in unsuitable investments to trading on client accounts without permission. The study also shows that of the financial advisors in the industry who have a material misconduct on their FINRA BrokerCheck, 73% are still employed a year after the event was reported. This number is alarming, particularly when considering that other studies have shown that brokers with a history of misconduct are five times more likely to engage in similar activities in the future.

At Meyer Wilson, we encourage investors to use all the resources available to them before making any investment decisions. We know the consequences of broker misconduct and how it can impact investors, and we want investors to arm themselves with the tools they need to help protect themselves. .

If you invested and lost money because of misconduct by your financial advisor, contact our securities fraud lawyers today for a free consultation. We can work with you to help you recover your investment losses.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

Share This Story
If you found the information provided by this article useful, consider sharing to your social media channels to help others in their search for reliable resources.
Consult with Our Legal Team
There is never a cost associated with a consultation
Atlanta Office

945 East Paces Ferry Road, Suite 2275
Atlanta, GA 30326
Columbus Office

305 W. Nationwide Blvd
Columbus, OH 43215
Meyer Wilson
New Orleans Office

900 Camp Street 
Suite 337
New Orleans, LA 70130
Los Angeles Office

2029 Century Park East,
Suite 400N
Los Angeles, CA 90067
Cleveland Office

4781 Richmond Rd.
Suite 400
Warrensville Heights, OH 44128
Bloomfield Hills Office

41000 Woodward Ave.,
Suite 350
Bloomfield Hills, MI 48304
Quick Links
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. Read More
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.
Read More
chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram