FINRA tells investors: BrokerCheck has lowdown on financial advisers

So, you check TripAdvisor to get the scoop on where you're staying and Yelp when you want the lowdown on where to stop for dinner. But how do you check out the broker who may write the road map for your financial future?

BrokerCheck, an online tool that allows investors to scrutinize their would-be financial adviser, has been available for several years

but has largely remained under the radar. Now, the Financial Industry Regulatory Authority (FINRA), the largest independent regulator for securities firms doing business in the U.S. and BrokerCheck's creator, is spreading the word with a new ad campaign targeting television, print and social media.

"BrokerCheck is this sort of jewel of information about a registered person's background, what firms they've been involved with, what complaints they've had,'' says Richard Ketchum, FINRA's chairman and CEO.

"Whereas you wouldn't go buy a car without using Carfax or something similar these days, that hasn't become second nature on the investing side yet,'' Ketchum explained. "All of us are so used to checking reactions and reviews for so many things with the accessibility of the Web, but we don't do it with respect to investments, and with every logic we should be.''

The TV ads, set to begin airing today, make it plain. One of the spots shows a bride preparing to walk down the aisle, when instead of the Wedding March she is greeted with the "Charge'' anthem commonly heard at baseball games.

''You wouldn't hire an organist without hearing them first, so why would you invest without checking BrokerCheck?'' the narrator asks.

With FINRA's online tool, an investor can input the name of an adviser they're curious about and get an array of information, from the licenses the adviser holds, to disciplinary actions they may have faced, and even their personal financial struggles like bankruptcy.

"Those are the kind of factors you'd usually like to know,'' Ketchum says. "How come in the last four years you've had seven complaints? ... Why'd you leave two firms in the last five years?"

Such knowledge about a financial professional is critical.

"If you're going to place your trust and confidence in someone that's going to help you fashion your financial strategy,'' Ketchum says, "then understanding her background, and whether she's moved from firm to firm, whether she's had a number of complaints ... are important factors you should consider.''

BrokerCheck may not be able to provide details beyond a certain date, like, for instance, a bankruptcy that occurred over a decade ago. And it won't tell you if a particular adviser is the best fit for you.

"Somebody can be ethical and still not be the right person to rely on for investments,'' Ketchum says. "After doing the initial research to make sure a broker is reputable, investors still need to ask themselves, 'Is this person designing a plan that is suitable for me and respects both my financial goals and my risk tolerance?' ... BrokerCheck will never answer all those questions. Those are sophisticated judgments you have to make yourself.''