FINRA, the regulatory authority overseeing broker/dealer community, unveiled a new version of Broker/Check. This is a database which keeps track of work history and disciplinary actions of the broker/dealers that it oversees. If you use a broker (Edward Jones, LPL Financial, Ameriprise, Metlife, Wells Fargo Advisors, and Raymond James just to name a few) take a look at their regulatory history, you may be surprised by what you find.
Just for fun, I ran a search on the infamous broker Bambi Holzer. She was the broker to many Hollywood stars and has quite a history of "Disclosure Events." You can read her 115 page report by clicking on the big red "Get Detailed Report" button in the top of the site. But I digress, the point is to make sure you know who you are working with. Stick with Fee-Only and make sure they are a Fiduciary. This means they are held to a higher standard of care when compared to a Broker/Dealer.
