Checked a broker's track record on FINRA and found 12 complaints

I was looking at a broker a friend recommended and decided to check them on FINRA's BrokerCheck. Turns out they had 12 customer disputes over 5 years, 7 of them settled. Has anyone else found stuff on there that changed their mind about a broker?

2 comments

2 Comments

abbyl491mo ago

Wait does that include the settled ones or just the ones that actually went somewhere? I had a broker with 8 complaints on FINRA and figured it was no big deal until I found out 3 were for churning accounts and one was a straight up theft accusation. The settled ones are the red flags cause they paid to make it go away not cause they were innocent. If its 12 complaints in 5 years that guy is either terrible at his job or taking clients he shouldnt be. Check if any of em involve the same type of investment he pitched to your friend. Thats the real test.

the_barbara1mo ago

12 complaints? I've had that many bad Tinder dates.