(1888PressRelease)
May 30, 2009 - ST. LOUIS, MO – In the wake of recent investment scandals on Wall Street, millions of consumers have taken a more active role in protecting their investment portfolio. To help consumers accomplish this, AdvisorCheck recently launched www.advisorbackgroundcheck.com , a free online service for consumers to efficiently investigate the background of financial advisors. AdvisorCheck is the first website within the financial services industry to offer an interactive prospect/client feedback program, much like the feedback system offered on eBay® and TripAdvisor®, among others.
Recent research indicates that American consumers typically spend an average of 5 hours online planning a vacation and 8 hours researching an auto purchase—yet when it comes to a process as important as substantiating the professional history of a financial advisor, proper planning is noticeably absent due to a lack of available tools, or knowledge of where to get all the information necessary for a meaningful check.
“Going through the process of securing a comprehensive background check typically takes numerous calls and hours of research. With all the recent economic turmoil, consumers must really know who they are entrusting their money with. In the same way that millions of people use the internet to plan a vacation, they can now take the time to do their homework before investing,” Mike Dunlap, President of AdvisorCheck, said.
AdvisorCheck can help financial advisors by providing an objective tool to demonstrate their consumer advocacy and support for ethical business practices. As a registered member of AdvisorCheck, financial advisors can demonstrate that they have a clean professional record and drive new business. Members of AdvisorCheck have the availability to respond and comment on any posted consumer feedback.
“Today’s investors are uncertain and cautious of the financial industry. Now is a critical time for advisors to be visible to their clients, by expressing their integrity and support for ethical business practices,” Dunlap said.
At no cost to the consumer, AdvisorCheck will run a basic background check on non-members of AdvisorCheck and a more advanced background check if the advisor is registered member of AdvisorCheck. The service looks into the background of financial advisors via civil/criminal background checks, credit/bankruptcy checks, financial liens/judgments, the Better Business Bureau, the Securities & Exchange Commission, the Department of Insurance/Professional License Checks, the Financial Industry Regulatory Authority and various other federal, state and private agencies. In addition to background checks, consumer feedback will be openly visible on the website.
About AdvisorCheck
AdvisorCheck was established to provide consumers with unbiased information to promote honest practices by advisors in the financial services industry. Through the AdvisorCheck website, both consumers and advisors can benefit through building trust, instilling confidence, and developing mutually beneficial relationships.
More information on AdvisorCheck is available by calling 1-877-566-9347 or by visiting www.advisorbackgroundcheck.com
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