What is a broker CRD number?
A: Every stockbroker (or “registered representative”) who is 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 contains the registration records of over 6,800 broker-dealers and 660,000 securities representatives.
Why Do I Need a 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 employment information for registered representatives.
What Do I Do with the CRD Number Once I Have It?
You can visit the Financial Industry Regulatory Authority’s (FINRA) website and use the CRD number to pull up records for any brokers you are considering working with. You should also ask your state securities regulator for a copy of the CRD report for each broker, because the reports from state regulators often provide more information than FINRA, especially regarding customer complaints.
It is recommended that you use this CRD system to check out a broker before making any investments. If the broker refuses to provide you with the CRD number, then that should be a red flag. Our article, Six Simple Steps to Help You Check Up on Your Broker, has further information to help you.
If you still have questions or think you might have an investment claim please contact us. We offer free and private consultations. Reach the Meyer Wilson investment fraud attorneys by phone at 1-866-827-6537.
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