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ND Securities Department
600 East Boulevard Avenue
State Capitol, 5th Floor
Bismarck, ND 58505-0510
Phone: (701)-328-2910
Toll Free: (800)-297-5124
Fax: (701)-328-2946
Grafton Office
701 W 6th Street, #312
Grafton, ND 58237
Phone: 701-352-4592

IT PAYS TO UNDERSTAND THE DIFFERENT ROLES OF FINANCIAL PROFESSIONALS

Bismarck, ND  –  In recognition of Financial Literacy Month, the North Dakota Securities Department today reminded investors of the importance of understanding the distinctions between the various types of financial professionals.

“Whether you are just starting a retirement fund or need additional help with growing and managing your money, you may benefit from selecting an investment services professional. It pays to understand the differences between a broker-dealer agent, an investment adviser representative, and a financial planner. Each serves a distinct role in helping with your financial future,” said Karen Tyler, North Dakota Securities Commissioner.

To help investors understand these differences, the North Dakota Securities Department has issued an investor advisory providing basic information on these types of financial services professionals and their obligations to investors.

For example, Tyler noted that anyone licensed as an investment advisor representative must, by law, act as a fiduciary and put the interests of his or her clients ahead of their own.

The investor advisory also provides a list of questions to ask your financial professional and warning signs to watch for.

For more information, contact the North Dakota Securities Department at 701.328.2910 or Toll Free:  1.800.297.5124.  The investment advisory can be found on the Department’s website at www.nd.gov/securities.