Iowans who want to invest their money wisely should first make a toll-free call to the state securities bureau to check up on their brokers. Investors are now able to access a database that holds information on 600-thousand brokers and 56-hundred securities firms. Craig Goettsch (getch) is Iowa’s Superintendent of Securities. He says the Central Registration Depository contains a wealth of valuable information that every Iowa investor should access before trusting someone with their financial future. Goettsch says all brokers and firms MUST file reports to the depository to stay licensed. A Connecticut money manager vanished in May along with millions –perhaps billions– of dollars. Goettsch says investors who’d used the database first would have known Martin Frankel had several warning signs on his record before entrusting him with their investments. Iowans can call the state Securities Bureau to check on a stockbroker or firm at 800-351-4665 or send e-mail to [email protected]
