While many in the financial services industry are ‘buzzing’ and ‘angry’ about background checks being requested by AdvisorCheck and advisorbackgroundcheck.com, the truth is that this is very common for many areas of our society.  In fact, teachers (a lot like investment professionals) are initially required to submit to background checks but then the system fails.  Many districts are now requiring yearly background checks and screenings.  As you will see, they are catching about 9% of the teachers with violations that occurred since they were hired by the district.

Maybe the advisors who are making the loudest noise are the one’s with problems?  We will see and compile the data as we go.

Check out this story

http://www.star-telegram.com/news/story/1545329.html