Awkward Questions You Need to Ask Your Financial Adviser

Three agencies are a good starting point for screening: the Financial Industry Regulatory Authority (FINRA), the Securities and Exchange Commission (SEC), and the National Futures Association (NFA).

[See 5 Ways to Measure Investment Risk.]

To check the background of a broker, use FINRA's BrokerCheck or call (800) 289-9999. For an investment adviser, use the SEC's Investment Adviser Public Disclosure website.

You may also opt to call your state securities regulator. Contact the North American Securities Administrators Association at 202-737-0900.

To check out investments, ask first: Is this investment registered with the SEC or with my state securities regulator? Use the SEC's EDGAR database of company filings or call your state securities regulator.

Also check out NFA's Background Affiliation Status Information Center, or BASIC.

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