Opinion

Clients know more about your background

Recently, the financial media recently has been focusing more attention on the online tools clients can use to conduct background checks on financial professionals.

The catalyst was a November 8 confessional in the New York Times by financial advisor Carl Richards of Park City, Utah, describing his own bankruptcy.

Bloomberg columnist Susan Antilla followed with a report describing the online tools consumers can use to do quick background checks on advisors:

This is a good time to review your own FINRA Broker Check and Investment Adviser Public Disclosure (IAPD) reports for accuracy. If you have past liens or bankruptcies reported by Broker Check or IAPD, you can include explanatory comments to clarify. It’s not a bad idea to volunteer copies of these reports to clients and prospects, and walk them through the information personally, to make sure they know the whole story about you.

About the Author
Rich White

Rich White

Writer and sales training consultant with 25 years of experience in the financial services industry, White is the author of "12 Steps to Your Personal Success in the 401(k) and Small Plan Market," the leading retirement plan sales program in the industry. You can reach him at 914-380-4522 or by email at richwhite8@yahoo.com.

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