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Paula T. Dow,
Attorney General

Division of Consumer Affairs
Thomas R. Calcagni, Acting Director

Bureau of Securities
Marc B. Minor, Chief

For Immediate Release:
August 11, 2010
For Further Information Contact:
Jeff Lamm, 973-504-6327
 

New Online Service Provides Background Information
About Investment Adviser Representatives

NEWARK—The New Jersey Bureau of Securities today announced the launch of an enhanced Investment Adviser Public Disclosure (IAPD) website that allows investors to electronically access information about individuals who work for money management, financial planning and other investment advisory firms.

The IAPD website, www.adviserinfo.sec.gov, is available to the public free of charge. The enhanced website, created for New Jersey and other member states of the North American Securities Administrators Association, provides information on investment adviser representatives – the individuals who work for advisory firms and provide investment advice to clients.

"The IAPD website is an important tool for New Jersey investors, providing for access to relevant background information concerning individual investment professionals, including their professional qualifications and employment history, as well as customer complaints and criminal or regulatory actions," said Attorney General Paula T. Dow. "This makes the financial industry professionals New Jersey investors consider entrusting with their hard-earned money that much more transparent."

The website information provided for both investment advisory firms and individuals comes from data electronically reported with state securities administrators, self-regulatory organizations and the Securities and Exchange Commission. The website provides information about each adviser’s business and discloses disciplinary problems an adviser or its registered employees may have had during the last 10 years.

"This database is a valuable resource tool for investors," said Thomas R. Calcagni, Acting Director of the Division of Consumer Affairs. "Investors now have an independent means for sorting through the field of potential investment advisers."

"By checking this website before investing, a person will be better equipped to evaluate who to hire to help plan for his or her financial future," said Marc B. Minor, Chief of the N.J. Bureau of Securities. "The combination of contacting the Bureau plus gathering information from the enhanced website provides powerful tools for investors to perform due diligence checks."

There presently are 2,740 investment advisory firms and 23,100 investment advisers registered with the Bureau. Investors can receive additional information on investment advisory firms and investment advisers by contacting the New Jersey Bureau of Securities at 888-I-INVEST or online at www.njsecurities.gov.

A similar public database already exists for investors who want information about brokers executing securities transactions. Broker Check can be accessed from www.finra.org/Investors/ToolsCalculators/BrokerCheck and also is available free of charge.

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