$1.8m funding boost for AdvisorCheck to enhance trust in financial advisors


AdvisorCheck, a FinTech platform offering comprehensive data and transparency tools to investors vetting financial advisors, has raised $1.8m.

The freshly infused funds come from undisclosed investors. This capital will play a critical role in supporting the firm’s ambitious objectives of scaling its technological capacity and enhancing features that bolster transparency in the personal finance sector.

AdvisorCheck has developed a robust system, Advisor Search, to help investors locate and evaluate financial advisors across the United States. The platform distinguishes fiduciary advisors, who prioritise client interests, from traditional brokers who may benefit from investments they recommend. Users can search for advisors by name, city, state, or associated firm. Additionally, the database clarifies if the advisor is an Investment Advisor Representative, Registered Representative, or both.

The firm’s recent innovation, AdvisorCheck+, marks a novel approach in the industry. This tool enables investors to conduct comparative background checks on potential advisors and offers continuous monitoring of chosen advisors throughout their relationship’s lifetime.

“Trust, transparency, and the transactional nature of the financial services industry are the challenges that AdvisorCheck was built to solve,” Dan Hattori, COO at AdvisorCheck said. “The creation of AC+ allows us to provide additional clarity and create an industry first, the ability to monitor your advisor through the life of your relationship.”

With AdvisorCheck, investors no longer need to rely solely on the due diligence of a financial advisor’s employer. The platform provides an independent background check and continuous monitoring service, ensuring transparency and peace of mind throughout the advisory relationship.

Currently, AdvisorCheck assists about 50,000 visitors monthly in finding, comparing, and monitoring their financial advisors. Acting as consumer advocates, the company’s products, free for consumers, facilitate transparency and accountability in the Financial Services Industry.

Keep up with all the latest FinTech news here

Copyright © 2023 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.