What is a Broker CRD Number?

A broker CRD number is a number you can use to search the Central Registration Depository (CRD) for information about specific financial advisors or brokers. Every financial advisor licensed to sell securities in this country has a CRD number. 

If you want to know more about a particular advisor before working with them or if you suspect your current advisor of fraud, you’ll want to learn more about their licensing and background by using their broker CRD number.

A skilled broker misconduct lawyer can answer any questions you have about the CRD and help you pursue compensation if you’ve lost money to fraud.

Information You Can Obtain with a Broker CRD Number

Understanding what a broker CRD number is can help you obtain a lot of helpful information about a financial advisor or brokerage firm. You can use a broker’s CRD number to get what is known as a CRD report.

Although the CRD report is not all-inclusive—and can sometimes be incomplete—it does include certain information about the advisor or brokerage firm’s:

• Licensing
• Registration
• Professional background
• Complaints
• History
• Disciplinary actions

Each financial advisor and brokerage firm is required to disclose certain information during the licensing and registration process and is assigned a CRD number. If you are considering working with a new advisor or firm, make sure to get their CRD number and learn more about them before you sign any contracts.

Why do I Need a Financial Advisor’s CRD Number?

As an investor, we recommend you do your research before entrusting your money to a new advisor or firm. Taking the time to learn more about an advisor can significantly reduce the chance that you will lose money to investment fraud or broker negligence.

If you’re not sure where to start, keep in mind that a big part of broker research is checking up on your financial advisor or brokerage firm so that you know you are working with someone who has the correct registration and doesn‘t have a history of misconduct. One of the best ways to do this is by obtaining your financial advisor’s CRD number.

You can use a financial advisor’s CRD number to:

• Find out if an advisor is registered in your state
• Determine what type of license an advisor has
• View complaints that the advisor or firm has received from past clients
• Find qualifications
• Review employment information

Using a broker CRD number to research these forms of information can help you make a smart decision when choosing a financial advisor. If you find that an advisor you were initially interested in working with has a lot of complaints or a history of fraud, we recommend that you consider other options.

FINRA’s Broker Check Makes Researching an Advisor Easy

At this point, you’re probably wondering how to actually use an advisor’s broker CRD number to learn more about them. The Financial Industry Regulatory Authority (FINRA) makes this process simple. All you have to do is visit FINRA’s BrokerCheck site and follow these steps:

• Step 1: Once you’ve landed on FINRA’s BrokerCheck site, click “Start Search.”
• Step 2: Next, you’ll want to agree to the Terms & Conditions, and click “Continue.”
• Step 3: Enter the CRD number and click “Start Search.” You will probably be asked to enter some numbers or letters to verify that you are a human, which helps FINRA prevent unauthorized access.
• Step 4: Find your brokerage firm or advisor in the results
• Step 5: View your advisor’s employment history, qualifications, disciplinary disclosures, and more.

Taking these simple steps can help you avoid a world of trouble down the road. Learning about an advisor’s qualifications, licensure, and history can help you protect yourself from investment fraud and broker misconduct. That said, if you are impacted by the negligent or fraudulent actions of an advisor, an investment fraud lawyer can help you take action.

How an Investment Fraud Lawyer Can Help You

While learning what a broker CRD number is can help you protect yourself from fraud to some extent, it can’t guarantee financial security. There’s always a chance that an advisor with a clean record will choose to engage in fraudulent practices. If that happens, you can count on an experienced attorney to pursue compensation on your behalf.

Here’s what a lawyer can do to help you get your money back:

• Offer a free consultation and explain what a broker CRD number is
• Investigate your investment fraud losses
• Gather trading records, financial statements, communication records, and other forms of evidence
• Use evidence to file a strong claim
• Represent you during the FINRA arbitration process
• Work hard to obtain compensation for your investment fraud losses
• Offer effective legal advice throughout your entire case

As you can see, a dedicated attorney can handle every stage of your case. With an experienced lawyer by your side, you’ll have an excellent chance at getting the results you need to replace your financial losses and move forward with future investments.

Meet with a Broker Misconduct Lawyer Today

If you are looking for a financial advisor, you might be asking yourself, “What is a broker CRD number?” At Meyer Wilson, we’re here to provide the information on CRD numbers you need to make informed investment decisions. We’re also eager to help you seek justice and compensation for any instances of fraud or misconduct you’ve experienced while investing.

Our team has over 75 years of combined experience handling cases like yours. We’ve won over $350 million for our clients, and we’re prepared to pursue the payment you’re owed. Contact us today to schedule a free consultation with a trusted attorney and learn more about your legal options.