AdvisorCheck Raises $1.8 Million to Revolutionize the Vetting and Monitoring of Financial Advisors

AdvisorCheck Secures Seed Funding to Scale Operations and Develop a Comprehensive Platform for Background Checks and Monitoring in the Finance Industry

Key Takeaways:

  • AdvisorCheck, a platform dedicated to providing investors with an additional layer of protection through transparent background data, has announced the successful completion of its $1.8 million seed funding round.
  • The platform’s flagship product, Advisor Search, offers a robust database that enables users to locate and search for financial advisors across the United States. Through the search records, investors can determine whether an advisor operates as a fiduciary, prioritizing clients’ interests, or as a traditional broker, focusing on investments that benefit themselves or their firm. Advisor Search allows users to search for financial advisors by name, city and/or state, or the firm they are affiliated with. The database also provides information on whether a financial advisor is an Investment Advisor Representative, Registered Representative, or both.
  • In addition to Advisor Search, AdvisorCheck has recently launched AdvisorCheck+, an innovative tool that enables investors to conduct comparison background checks on advisors they are evaluating and provides continuous monitoring of the selected advisor throughout the relationship.

Enhancing Transparency and Trust in Personal Finance

AdvisorCheck aims to address the challenges of trust, transparency, and the transactional nature of the financial services industry. The introduction of AC+ empowers investors with greater clarity and an industry-first capability to monitor their advisor throughout their relationship.

Establishing a relationship with a financial advisor can have a lasting impact on one’s finances, future, and overall life. Relying solely on an advisor’s employer due diligence may not provide sufficient assurance. AdvisorCheck offers peace of mind by conducting independent background checks and providing continuous monitoring to foster transparency in the client-advisor relationship.

With approximately 50,000 monthly visitors, AdvisorCheck helps investors discover, compare, and monitor their financial advisors throughout the entire duration of their association. By acting as consumer advocates, the platform delivers fast and free products to users while promoting transparency and accountability in the Financial Services Industry.

About AdvisorCheck

AdvisorCheck, founded in 2019 by a group of financial industry veterans, is based in Englewood Cliffs, NJ, with offices in Los Angeles. The platform was built by investors, for investors, with the aim of assisting investors of all asset sizes in finding, comparing, and monitoring their trusted advisors throughout the lifespan of their relationship. AdvisorCheck tools offer unbiased and comprehensive data on advisors and their respective institutions.

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