While brokerage software can provide the most statistically likely option for investors, financial advisors use their years of industry experience to provide options that are tried and tested.
With decades of experience in the industry, Francisco Faraco is still not convinced if the task of financial consultation can be automated
Scarsdale, New York, 30th October 2022, ZEXPRWIRE, The world has increasingly adapted to software solutions and artificial intelligence as a way to automate various processes in daily life. The role of financial advisors is no different, as numerous pieces of software widely available online claim to provide the same level of expertise as an industry expert.
One notable financial expert who believes it is not yet time to automate this highly sensitive industry is Francisco Faraco, a CFA Charterholder with many years of experience investing in various industries. The expert recommends the FINRA BrokerCheck as a versatile tool to help advisors, firms, and brokers that can provide investors with the guidance they need to make informed use of their money.
In an aim to help promote safe investment opportunities to the general public, the Financial Industry Regulatory Authority (FINRA) launched its free tool called BrokerCheck, which can help investors identify the professional backgrounds of various firms, advisors, and individuals.
Speaking on how investors are better off on FINRA BrokerCheck than brokerage software, Francisco J. Faraco said, “In a field like investment, trust is key. While brokerage software can provide the most statistically likely option for investors, financial advisors use their years of industry experience to provide tried and tested options.”
He added, “The BrokerCheck service is provided by the Financial Industry Regulatory Agency (FINRA). It is a central repository for information and data about securities firms and their registered representatives. This information is collected and disseminated through various sources, such as the CRD, online registration, and licensing database operated by the Securities and Exchange Commission. Through a high level of compliance and due diligence, the portal can help investors make smart financial decisions.”
FINRA BrokerCheck is an online tool that allows investors to view information about over 3,500 brokerage firms and over 600,000 securities representatives. It is an easy-to-use tool that shows how to manage the information provided.
About Francisco Faraco
CFA Charterholder FINRA Brokercheck Francisco Faraco has years of experience in financial consultancy and investment. Working for various US-based and international organizations, he currently works for the University of Chicago under the IPR model in the Master of Science in Financial Mathematics. In this Teaching Assistant role, he has helped students develop the skills needed to succeed in the field.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Sahyadri Times journalist was involved in the writing and production of this article.