The verification standard
Start with the legal person and firm, not the letters after a name. A useful background check connects the professional's identity, current registration, employer, disclosures and written service agreement.
Run the checks in order
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Record the identity before you search
Ask for the individual's full legal name, firm name, office location and CRD number. Similar names and team marketing names create false matches. Search both the individual and the firm; one can have disclosures that the other does not. Next step: Recognise inconsistencies and pressure tactics.
Use the registry that matches the activity
Use IAPD for investment adviser firms and representatives, and BrokerCheck for brokerage registrations. Read the current employment, registration states, exams and disclosure sections. A disclosure is not automatically disqualifying, but it requires an explanation you can compare with the official record. Next step: Record the evidence from each candidate.
Read Form CRS and Form ADV as comparison documents
Form CRS is a short relationship summary covering services, fees, conflicts and disciplinary history. Form ADV Part 2 provides deeper detail about the advisory business, fee schedules, methods, conflicts and disciplinary information. Note where the conversation differs from the filings. Next step: Understand which adviser registration system applies.
Treat designations as a separate claim
A designation may involve education, an exam, experience and ongoing requirements - Or very little. Verify it with the issuing body and check current status. Do not use a title as a substitute for registration, service scope or fee analysis. Next step: Explore credential and title verification.
Primary sources
What a complete verification record looks like
Example: Jordan finds an adviser whose website says 'wealth manager.' IAPD shows the person as an investment adviser representative at the named firm. Jordan saves the Form CRS, confirms the firm charges an asset-based fee, notes a separate custodian cost and asks why the proposal also includes a higher-cost fund. The title never enters the decision; the documents do.
Verification questions
Does a clean IAPD or BrokerCheck record guarantee a good adviser?
No. A current registration and a record without listed disclosures do not guarantee competence, fit, value or future conduct. Use the record as one part of a wider comparison of scope, cost, conflicts and service.
Should I check the adviser or the firm?
Check both. Individual and firm records answer different questions, and each can contain employment, registration or disclosure information that is important to the decision.
What counts as verified
- Match full name, firm, location and CRD number
- Check both person and firm
- Read all disclosure details and dates
- Save Form CRS and Form ADV Part 2
Build a verification file you can revisit
A search result is only useful if you can connect it to the person, firm and service in the proposal. Save enough context to repeat the check later. That means recording identifiers, filing dates and unresolved differences, not taking a green status or search result as a complete verdict.
Save the record behind the result
Keep the adviser and firm names exactly as shown, their CRD or SEC identifiers, the registry used and the date checked. Download or save the current Form CRS and relevant Form ADV brochure instead of relying on a candidate's summary.
If BrokerCheck or IAPD lists an event, read the underlying category, dates, status and resolution. The presence of an event needs context, while an empty disclosure section still does not establish skill, fit or value.
Resolve identity and service mismatches first
Pause when the legal firm differs from the brand on the proposal, the office is not connected to the record, or the person named in the filing will not perform the work. Ask for a written explanation and verify it through independently sourced contact details. Only after identity and authority align should you compare the engagement scope, fee schedule, conflicts and experience relevant to your circumstances.
| Claim | Evidence to keep | What it does not prove |
|---|---|---|
| Registration | Dated IAPD or BrokerCheck record for the person and firm | Competence, fit or future conduct |
| Employment | Current firm, office and CRD identifiers | Who will handle every part of the engagement |
| Designation | Issuer directory entry and current status | Legal authority to provide a regulated service |
| Fees | Form CRS, Form ADV, agreement and a dollar estimate | That every cost is included unless the documents reconcile |
This guide is general education, not individual financial, investment, insurance, mortgage, legal or tax advice.