Financial Brokers Could Be Hiding Past Consumer Complaints

December 20, 2013 4:23 AM
Financial Brokers Could Be Hiding Past Consumer Complaints
" BOSTON (CBS) – The financial industry has come under a great deal of scrutiny in recent years. There is still concern, however, about a lack of transparency when it comes to some consumer complaints.

Damon Petraglia is careful about the people who handle his money. “It is very important for me to have somebody reliable and capable.” Damon is no average investor. He’s a private investigator who is often hired to check out brokers for his clients. He usually starts with the website for the Financial Industry Regulatory Authority, also known as “FINRA” This site allows someone to check any federally licensed financial professional. Public records list a broker’s licenses and where they’ve worked. But Damon found some critical information missing from this site "

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