Google Isn’t Enough
Google Isn’t Enough: Using BrokerCheck and IAPD to Research Advisors the Right Way
When athletes land their first NIL deal, one of the smartest moves they can make is hiring a financial advisor. But here’s the mistake too many athletes and parents make: they simply Google the advisor’s name and stop there.
A polished website, good reviews, or a professional LinkedIn profile can make anyone look trustworthy. But Google doesn’t show you what matters most: an advisor’s licenses, registration, disciplinary history, or client complaints.
That’s where FINRA BrokerCheck and the SEC’s Investment Adviser Public Disclosure (IAPD) come in. These are the official databases that regulators maintain, and they’re free for anyone to use. Here’s how to research advisors the right way.
1. Why Google Isn’t Enough
Search engines are designed to show marketing — not accountability.
Websites are controlled by the advisor or their firm.
Online reviews can be incomplete or manipulated.
Social media profiles highlight successes, not red flags.
If you’re trusting someone with your NIL earnings, you need the truth, not just the image.
2. Start With FINRA BrokerCheck
Link: https://brokercheck.finra.org
BrokerCheck shows you whether a financial professional is licensed to sell investments and provides a clear record of their background.
What you’ll find:
Current licenses and registrations (Series 6, 7, 63, 65, etc.)
Employment history
Disclosures such as complaints, fines, lawsuits, or terminations
State registrations
Tip: Pay special attention to the Disclosures section — even one major complaint is worth asking about.
3. Use the SEC IAPD for Advisors and Firms
Link: https://adviserinfo.sec.gov
The IAPD database provides details on investment advisors and their firms.
What you’ll find:
Registration status (active, withdrawn, suspended)
Services offered and fee structures
Conflicts of interest
Disciplinary history
The firm’s Form ADV Brochure — which explains services and fees in plain English
Tip: Check both the individual advisor’s page and their firm’s page for the full picture.
4. What Red Flags to Watch For
Multiple client complaints or lawsuits
Frequent job changes between firms
Terminations “for cause”
Regulatory fines or suspensions
Vague or incomplete answers when you ask about these issues
5. How to Use This in Your NIL Journey
Before you hire a financial advisor:
Run their name on BrokerCheck.
Run their name and firm on IAPD.
Print or save the reports.
Ask them directly about anything that looks questionable.
Compare multiple advisors before choosing.
The Bottom Line
Your NIL earnings are too important to gamble on an advisor who only “looks good online.” Google can show you surface-level information, but BrokerCheck and IAPD show you the truth.
By doing this research, you’ll know whether your potential advisor is licensed, transparent, and trustworthy.
Need help finding vetted professionals? Use the NIL Financial Advisor Directory — the go-to resource for athletes and families looking for trusted advisors who understand the unique challenges of NIL income.
