Recent statistics of the Financial
Industry Regulatory Authority (FINRA) indicates that there are over 637,000 individual registered
representative associated person stockbrokers in the United States employed by over 4,000 FINRA broker
dealer member firms. Separately, statistics of the Securities and Exchange Commission Division of
Investment Advisors indicates that there are approximately 238,000 investment advisor representatives
(IARs) employed by over 4,000 registered investment advisor (RIA) firms in the United States.
Is your financial advisor a FINRA registered representative/stockbroker, an investment advisor
representative of a registered investment advisor firm – or both? Yes, there are also 28,000 duly
registered financial advisors in the United States who are both FINRA registered representative
stockbrokers employed by FINRA member firms and investment advisor representatives employed by registered investment
advisors. As confusing as this may sound, these separate titles also may carry separate levels
of professional, legal, ethical fiduciary, financial and regulatory responsibilities.
We offer a free initial consultation to investors who feel they may have been victimized by their
registered representative stockbroker or investment advisor representative. For a free initial
consultation, contact The Law Offices of Timothy J. O’Connor at (518) 426-7700.
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