NASAA website lets investors view background information on advisors

Date: Tuesday, June 29, 2010
Author: Investment Executive

NASAA said Monday that the Investment Adviser Public Disclosure website has been enhanced to allow investors to electronically access information about individuals who work for money management, financial planning and other investment advisory firms, including background information such as customer complaints, criminal or regulatory disclosures, including any disciplinary incidents over the past 10 years, professional qualifications, and employment history. Previously, the IAPD only provided instant access to registration documents filed by registered firms.

Denise Voigt Crawford, NASAA's president and Texas Securities Commissioner, hailed the enhancement as an important step in improving investor protection. “Investors should be equipped with the important information that will be available through this website when they evaluate who they should hire to help them plan for retirement or pay for a child’s education,” Crawford said.