Potential investors and employers can easily find negative BrokerCheck, IAPD, IARD, and CRD disclosures — disclosures can cost money and even careers.
The internet makes it easy for prospective investors to learn about financial advisors’ employment history, certification and licenses, as well as investor complaints, terminations, and regulatory violations. In fact, FINRA cited 40 million visitors to BrokerCheck just last year.
Because of the immediacy and ease of locating these negative disclosures on either BrokerCheck or the IAPD, individual advisors benefit considerably from FINRA and CRD expungement of a mark that is tarnishing their name and brand.
Pull a snapshot showing your own CRD disclosures here.
Since a landmark FINRA ruling in 2009, financial advisors may now seek to have nearly any investor complaint or Form U5 termination disclosure expunged through an arbitration forum overseen by FINRA.
Through FINRA arbitration, there are several means by which AdvisorLaw can clean up your BrokerCheck or IAPD and ensure that an advisor’s personal and professional reputation are accurately depicted to the public and industry observers.
Customer Dispute Expungement
A FINRA customer dispute disclosure listed on BrokerCheck, as well as many investor complaints listed on the IAPD, can be expunged through the FINRA Rule 2080 arbitration process.
Our staff is well versed in the process of obtaining an order of FINRA expungement to remove these meritless investor complaints from BrokerCheck and the CRD (Form U4 and Form U5 Termination Disclosures, or Customer Separation after Allegation) as if they never happened.
Unauthorized Trading, Investor Complaints, Failure to Supervise, Breach of Fiduciary Duty, Negligence, Suitability, Misrepresentation disclosures - these may all qualify to be cleared from the CRD and IARD records via FINRA Rule 2080 expungement.
How much would losing even ONE prospective household cost you over the life span of the average account?
Transition is not necessarily the best response. With ever-changing B/D acquisitions, regulatory road blocks, and changing product lines, financial advisors sometimes feel the only choice is to transition to a new firm in order to satisfy the investment needs of their clients.
Despite the clear benefits to both the financial advisor and the investor, transitioning to a new brokerage firm with even a single U4 or U5 termination disclosure (Customer Separation After Allegation) has become increasingly difficult. In addition, the amount of compensation given to transitioning financial advisors is typically scaled back as a result of the ESAA disclosure.
Neither the former employer who filed the U5 termination disclosure nor your current employer may unilaterally clear your BrokerCheck and IAPD records. Full expungement of an U5 termination must be granted by a FINRA arbitration panel.
Do you have a meritless disclosure on your BrokerCheck, IAPD, or CRD record?
Give us a call today at (303) 952-4025 or contact us for a complimentary consultation.
AdvisorLaw ensures that you have the best possible representation in state court in order to expunge criminal disclosures that show up on BrokerCheck or the IAPD. Rules vary widely between states, and not every one offers the ability to expunge old offenses. However, if available, financial advisor's may qualify to have any record of past criminal offenses sealed or destroyed and subsequently removed from their CRD.
Few disclosures may negatively affect a financial professional more than a disclosure denoting federal tax liens. Although these may often be caused by medical or family situations that are beyond the control of the financial advisor, investors will simply be unforgiving when it comes to massive tax debts.
Expungement of any IRS liens is a critical step in the race to controlling your own narrative. Whether you’re on a payment plan or need assistance with resolving the debt you’ve already incurred, AdvisorLaw can help. We have proven strategies for resolving back taxes and expunging the liens that plague your public record.
Previously Obtained Expungement Award
We come across many advisors who have previously secured an expungement award under FINRA Rule 2080 through another firm, yet they have not seen their record removed at the regulatory level. We handle so many FINRA disclosure expungement cases that regardless of where you are in the process, we can bring you across the finish line. AdvisorLaw can put you back on top!
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