Understanding Your CRD As An Advisor (Central Registration Depository)

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.

Jodie Papike

Jodie Papike is the CEO & Managing Partner of Cross-Search, the first third-party, independent broker dealer advisor and executive placement firm. Since joining Cross-Search in 1997, Jodie has been consulting with financial advisors transitioning to new independent broker dealers, guiding them through the entire process of identifying their most appropriate options, negotiating a deal and transitioning clients. Jodie has an intricate knowledge of the securities industry and a deep understanding of each of the major independent broker dealer firms, enabling her to help advisors find and transition to a broker-dealer that best suits their needs. Cross Search has placed thousands of advisors, producing more than 375 mill. in gross dealer concessions. Jodie takes the utmost pride in finding a firm for an advisor that will not only better their career, but will also be a good home for them for years to come. Jodie is a frequent speaker at industry conferences, is regularly quoted and published in publications such as Investment News, Registered Rep, Financial Planning, Life Insurance Selling and Advisor One. Jodie earned a Bachelor of Arts degree from San Diego State, graduating with honors.