MONEY
securities industry, who they are employed by, who they previously worked for, where they are registered to do business, and the examinations they have passed that are current. You will see if they are registered only as a broker who sells securities, or also as an investment advisor who provides investment advice for a fee. However, this site will provide information on their activities as a broker. If this individual has any disclosure events you will see a notation. A disclosure event includes information about client disputes, disciplinary actions and financial matters on the broker’s record. You can click on the “detail” icon to see a complete report of these activities. Any disclosure events will have a record of the event or complaint, a short summary of the circumstances, sometimes the amount of money involved, and the disposition of the item, whether dropped, or settled. If your advisor is a registered investment advisor as well, you will see a link connecting you to the “Investment Advisor Public Disclosure Report,” on the U.S. Securities and Exchange Commission website. This will list any disclosure items having to do with their activities as an investment advisor. Again, you have a summary page and a more detailed report, with any material events noted. Investment advisors are also required to file and annually update a two-part form known as an ADV. This form is the primary registration document for an investment advisor, and gives detailed information about a firm s investment approach, fees, size, and compli-
ance history. This form is available for you to view online by going to the SEC website advisor search page, www.adviserinfo.sec.gov/ IAPD/Content/Search/iapd_Search.aspx. You can then enter the firm or individual’s name and follow the link to a complete copy of their ADV form. Insurance agents, no matter what type of insurance they offer, are regulated by the state, through an extensive examination and continuing education process. To confirm that an insurance agent is properly licensed in South Carolina, go to www.doi.sc.gov, click on “online services,” then “search SCDOI database. “ Enter the name of the agent or firm you are researching, and their details will come up. No compliance or complaint information is available, but you can see if the individual is properly licensed. For additional information, the phone number for the Department of Insurance Consumer Services is 803-737-6180. M Steven Weber, Gloria Harris, and Frank Weber are the investment and client services team for The Bedminster Group, providing investment management, estate, and financial planning services. The information contained herein was obtained from sources considered reliable. Their accuracy cannot be guaranteed. The opinions expressed are solely those of the authors and do not necessarily reflect those from any other source. Discussion of individual stocks are informational and do not constitute recommendations to purchase.
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