What Is a Broker CRD Number?
Every stockbroker (“registered representative”) licensed to
sell securities in this country has what is a called a “CRD”
number. CRD stands for Central Registration Depository, which is a database
that holds information about brokers and brokerage firms. Although the
report is not all inclusive (and can sometimes be incomplete), it does
include certain information about licensing, registration, professional
background, complaints, history, and disciplinary actions. Each broker
and brokerage firm is required to disclose certain information during
the licensing and registration process and is assigned what’s called
a CRD number.
Why Do I Need a Broker's CRD Number?
We repeatedly recommend individual investors to do their research before
handing over your life savings to an investment professional. Just a little
extra time invested in research can go a long way toward reducing the
chance that you will become a victim of investment fraud.
If you’re not sure where to start, keep in mind that a big part of
that research is checking up on your broker or brokerage firm so that
you know you are dealing with someone who is properly registered and does
not have a history of disciplinary actions or complaints.
One of the best ways to do this is by obtaining your broker’s “CRD”
number. You can use a broker’s CRD number to confirm whether a broker
is registered in your state, learn what licenses they possess, and to
find out if there are customer complaints against that representative
or his or her brokerage firm. This database also has qualification and
How Do I Find Information with FINRA’s BrokerCheck?
Step 1: Go to
FINRA’s BrokerCheck site.
Step 2: Click “Start Search.”
Step 3: Agree to the Terms & Conditions, and click “Continue.”
Step 4: Type in your broker’s CRD number or the name of your broker or brokerage
firm, and click “Start Search.” You will probably be asked
to enter some numbers or letters to verify that you are a human—this
simply helps FINRA prevent unauthorized access.
Step 5: Locate your broker or firm in the search results, and click on his or her name.
Step 6: You’re done! You should now be able to view your broker’s
name, CRD number, employment history, qualifications, disciplinary disclosures, etc.
If you still have questions or think you might have an investment claim please
contact us. We offer free and private consultations. Reach our investment fraud attorneys
at (888) 390-6491.