Topic- Advisors, protect your CRD.
Two commonly mishandled issues that become marks on an advisors record.
Now more than ever, it is important to understand and protect your record. This is especially important now because of the increased pressure regulators have put on broker dealers to not hire advisors with marks on their records.
From our experience, the two most misunderstood issues that become “yes answers” if handled improperly are-
1) Credit- bankruptcies, liens and compromises with creditors are all items that will be represented on your CRD. If they can be avoided, especially compromises as they are all listed separately, do so.
2) Customer complaints- depending on the unique situation around the complaint, evaluate whether a settlement can be avoided. This will be represented on your record indefinitely. If you do settle a complaint, make sure to include comments that represent your side of the story.