Tag: brokercheck

Amazing Pass Rates!

For over 10 years Solomon Exam Prep has been devoted to helping students to prepare effectively for various securities and insurance licensing exams. We pride ourselves on our customer service and easy-to-use products that make the studying process as painless as possible. Continue reading

For over 10 years, Solomon Exam Prep has been devoted to helping students effectively prepare for various securities and insurance licensing exams. We pride ourselves on our customer service and easy-to-use products that make the studying process as painless as possible.

Solomon Exam Prep has recently published a brand-new line of materials for the MSRB Series 51, Series 52 and Series 53 exams. We are pleased to report that our early Series 52 and Series 53 students have all passed their exams!

We keep track of our students through BrokerCheck and keep in contact with them via e-mail. “We are excited to announce a 93% pass rate across all of our exams,” said president Jeremy Solomon. We are constantly publishing more materials and updating our current materials, which is how we can maintain such a high pass rate. Our Series 7 boasts a 95.0% first time pass rate, Series 82— 97.4%, Series 55— 96.9%, and Series 63— 93.6% just to name a few.

Are you studying for your FINRA, NASAA, or MSRB exams? Order now and be a part of our amazing pass rate!

FINRA Focuses Attention on BrokerCheck

Selecting a broker to invest hard-earned money can be a nerve-racking thought to many investors. With news headlines focused on the lingering results of the economic crisis and financial scandals that left many penniless, it has never been more important for investors to find a broker they can trust. Continue reading

Selecting a broker to invest hard-earned money can be a nerve-wracking process for many investors. With news headlines focused on the lingering results of the economic crisis and financial scandals that left many penniless, it has never been more important for investors to find a broker they can trust.

Luckily, there is a resource that might give them some peace of mind. In 1998, FINRA (the Financial Industry Regulatory Authority) established the website BrokerCheck as a tool for investors researching the record of a firm and its brokers. The website features professional background information on approximately 1.3 million current and former FINRA-registered brokers and 17,400 current and former FINRA-registered brokerage firms. BrokerCheck lists terminations, complaints, lawsuits and even personal bankruptcies, with the mindset that past behaviors are both telling and predictive of future behaviors.

The Dodd-Frank Act, passed in 2010 in response to the financial crisis, required regulators to make the website more user friendly and accessible. Regulators are concerned that although BrokerCheck is readily available for anyone to use, not enough people are aware of this tool. To encourage more investors to use the site, a year ago FINRA proposed a regulation that would require brokerage firms to include on their websites and social media feeds a link to FINRA’s BrokerCheck website. But many people were up in arms about this proposed rule change. After receiving dozens of comments, the filing was withdrawn in order to re-write and re-introduce it later this year with an inclusion that would require firms to describe BrokerCheck in a “prominent location”.

This renewed focus on the BrokerCheck website falls in line with FINRA’s actions to focus on prosecuting recidivist brokers, or those who have multiple complaints, disclosures and abuses on their record. A big step in curbing these behaviors that could harm the securities industry is to encourage well-informed investors.