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BrokerCheck advertising campaign kicks off

The NBA Finals and the Stanley Cup Finals are two premier sporting events that will attract television viewers in June. In fact, these events will likely be the largest viewing events for the summer until the NFL begins again in August with pre-season games. During these games, viewers will likely see commercials for summer movies, insurance companies and new cars.

Viewers will likely see commercials for FINRA’s BrokerCheck, which is the largest online tool that potential investors can use to scrutinize a would-be securities broker. According to a recent USA Today report, the service would work like TripAdvisor or Yelp, as investors would be able to gain information on brokers and financial advisors through an online consumer rating system. 

Indeed, BrokerCheck has been around for years, but it has not gained national attention like other consumer rating sites. Because of this, FINRA has embarked on a multi-million dollar advertising campaign that will include television, print and online ads to spread the word about BrokerCheck’s services.

Through BrokerCheck, an investor can find a number of helpful pieces of information, including a broker’s licensing information (the types of licenses he or she has), whether they have faced disciplinary actions, and even information on the broker’s personal financial struggles, such as bankruptcy. The goal ostensibly is for BrokerCheck to be as well-known for previewing financial advisors and brokers as CarFax is for researching cars. Researching investors has not become second nature yet, so the advertising campaign for BrokerCheck has a ways to go to reach mainstream consumers. 

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