- Ask who the person is registered or licensed with and in what capacity. FINRA says that if they say they are not registered or licensed, you should not buy.
- Verify what you were told on FINRA BrokerCheck (brokercheck.finra.org) or by calling the help line at (800) 289-9999.
- Investment advisers may not be FINRA-registered. If BrokerCheck shows they are registered with the SEC, the profile links to the SEC’s Investment Adviser Public Disclosure (IAPD) database.
- Scammers may fake registration or use the names of real professionals, so look for inconsistencies between what you were told and what you find.
Step 1: ask directly
FINRA’s advice is to ask who the person is registered or licensed with and in what capacity. If the answer is that they are not registered or licensed, the guidance is blunt: say goodbye and do not buy.
Step 2: verify the answer yourself
Do not rely only on what the person tells you. Search their name on BrokerCheck and compare the results with what they told you. You can also call the BrokerCheck Help Line at (800) 289-9999. Once you know who you are dealing with, compare what their funds cost: see mutual fund and ETF fees.
Find the individual, then click More Details under their name to open the summary report. FINRA says the report covers employment history, qualifications, disclosure events and more. BrokerCheck and IAPD can also be used to research firms.
If they call themselves an adviser
FINRA notes that investment advisers may not be FINRA-registered. If BrokerCheck shows an adviser is registered with the SEC, the profile links to the SEC’s Investment Adviser Public Disclosure database (IAPD), so you can follow it there.
Step 3: check other sources
FINRA also suggests contacting your state securities regulator and using the SEC’s Action Lookup Tool to find individuals who have faced SEC action.
| Question | Where to look | Done |
|---|---|---|
| Is the person registered, and in what capacity? | Ask them, then check BrokerCheck | |
| Do the employer and history match what they told me? | BrokerCheck summary report | |
| Are there disclosure events? | BrokerCheck or IAPD report | |
| Is it an adviser registered with the SEC? | IAPD, linked from BrokerCheck | |
| Has the person faced SEC action? | SEC Action Lookup Tool | |
| What does my state regulator say? | Your state securities regulator |
Watch for fake credentials
FINRA warns that scammers may fake registration or use the names of real professionals or firms. If anything you are told differs from what the database shows, stop and ask why.
Phone numbers FINRA lists
| Service | Number |
|---|---|
| BrokerCheck Help Line | (800) 289-9999 |
| FINRA general inquiries | 301-590-6500 |
| Securities Helpline for Seniors (Monday to Friday, 9 a.m. to 5 p.m. Eastern) | 844-574-3577 |
| Small Firm Help Line (Monday to Friday, 9 a.m. to 6 p.m. Eastern) | 833-26-FINRA |
Frequently asked questions
How do I check if a financial advisor is registered?
Ask who they are registered with, then search their name on FINRA BrokerCheck at brokercheck.finra.org, or call (800) 289-9999, and compare the results with what they told you.
What does BrokerCheck show?
FINRA says the summary report covers employment history, qualifications and disclosure events, among other details.
What if they are an investment adviser and not a broker?
Investment advisers may not be FINRA-registered. If BrokerCheck shows they are registered with the SEC, the profile links to the SEC’s IAPD database.
What if the person says they are not registered?
FINRA’s guidance is to say goodbye and not buy.
Is there help for older investors?
FINRA lists a Securities Helpline for Seniors at 844-574-3577, open Monday to Friday, 9 a.m. to 5 p.m. Eastern.
Sources
Each source was opened and read on October 26, 2026. See how we verify.