In this lesson you will learn 💸
- Which bodies regulate the US's financial services industry
- Where to find out more about your rights and where to complain
Where can I place a complaint?
The US financial services industry is strictly regulated. By choosing the right advisor, you can also make sure you're protected.
Choosing a US Financial Industry Regulatory Authority (FINRA)-registered financial advisor to help you make investments and other financial decisions means that if something goes wrong, you can complain to the CFP Board's Professional Standards Department.
Tip 📌
If you are not happy with the service you receive, raise a complaint with the financial services institution through their channels, or ask the advisor to give you the name of his or her supervisor.
Things will never change if we don't speak up!
How can I place a complaint?
The Financial Industry Regulatory Authority (FINRA) website tells you how to complain, how to complain compensation, and provides links to verifying your advisor's qualifications.
The Rules and Guidance section includes a rulebook of FINRA guidance for advisors, firms, brokers, and so on. This is regularly updated to reflect the changing market.
What comes next?
🎉💰You're just a step away from wrapping up this chapter. Test your knowledge with a snappy quiz, and gear up for some practical tips how to choose an advisor in the next lesson.
1/7