Why You Need To Watch Your Stockbroker Like A Hawk

Broker-dealers are in an industry overseen by the Financial Industry Regulatory Authority (FINRA), but mostly, no one is closely watching them. Making a good profit is their motivator. Sometimes, profit gets all too tempting and those in the position of having control over another’s money take advantage of that power.

One wants to believe that brokers are generally honest, and that they follow the rules. These rules include working for the benefit of the client, not just for themselves. And things can go terribly awry when greed gets the better of some in the field. Clearly, not all brokers are dishonest, but a minority definitely are.