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Before you transfer money, verify three separate things: the seller’s identity and registration, the investment’s written terms and issuer, and the account or wallet receiving your payment. A real registration record does not prove that the person who contacted you works for that firm or that the offer is genuine. This U.S.-focused checklist shows how to check each part independently.
How do I verify an investment offer before sending money?
- Pause before paying. Do not let a deadline, “once-in-a-lifetime” pitch, claim that everyone is buying, or supposed inside information rush you. The SEC advises taking the time needed to investigate before sending money or signing an agreement. A legitimate opportunity should be explainable in writing. SEC investor alert on investment fraud.
- Look up the seller in the official database for their role and product. Check the individual and firm when both are involved. Read disclosures and disciplinary records in context; a search result or registration status is not a quality rating.
- Independently authenticate the contact. Find the firm’s contact information through its official record, not the pitch, and ask whether the person and offer are genuine.
- Examine the investment and its documents. Establish who issues it, what the money will fund, what rights you receive, which risks and fees apply, and how you can exit.
- Confirm the payment destination. Match the recipient and account name to the verified firm and offering documents. Treat any mismatch as a reason to stop and verify.
- If a check fails, do not send money or personal information. Preserve the pitch and records, and report false SEC-registration claims or online fraud to the appropriate agency.
How can I check if an investment company is legitimate?
Start with Investor.gov’s Ask and Check directory, which directs investors to records suited to different roles and investments. The correct database depends on what is being sold and who is selling it:
| What you are checking | Official record | What to review |
|---|---|---|
| Investment adviser or advisory firm | Investment Adviser Public Disclosure (IAPD) | SEC- and state-registered adviser firms and individuals; status, business practices, fees, conflicts, disciplinary history, qualifications, employment history, and the firm’s Form ADV. |
| Broker or brokerage firm | FINRA BrokerCheck | Current and former FINRA-registered brokers and firms; background, exams, employment, customer disputes, registrations, and disciplinary events. |
| Company or securities issuer | SEC EDGAR | Company filings, registration statements, prospectuses, periodic reports, and financial statements. |
| Futures or commodities professional | NFA BASIC | Registration, membership, and futures-related disciplinary information. Investor.gov also links to CFTC disciplinary-history resources and SmartCheck. |
| Municipal securities | EMMA | Official statements and continuing disclosures. |
| State-level information | State securities regulators | Additional state information; relevant records depend on the product and the seller’s role. |
These records answer different questions. For example, an issuer’s EDGAR filing is not proof that the salesperson is registered or that the SEC endorses the investment. The SEC explains that a filing does not mean a person or firm is SEC-registered. SEC alert on misleading claims about SEC registration.
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Search the adviser’s name in IAPD and open the firm’s record. Review its status and Form ADV, along with the individual adviser’s record if a specific person is advising you. Form ADV describes matters such as services, fees, conflicts, and disciplinary information. Compare names and details carefully; a similar name is not an identity match.
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What if the seller says it is an exempt reporting adviser?
Do not treat an ERA filing as SEC registration or as approval of an offer. In an Aug. 27, 2026 alert, the SEC says “ERAs are not registered with the SEC” and that an ERA “legally cannot provide investment advice directly to you, as an individual.” The SEC also warns that scammers have used ERA filings to create an appearance of legitimacy. Read the SEC alert for its specific context.
How do I confirm the person contacting me really works for the firm?
A scammer can copy a real firm’s name, address, registration number, logo, website, or a professional’s public report. A lookalike website, social-media profile, spoofed phone call, or convincing document does not establish who is contacting you.
- Find the firm through the relevant official database rather than using a link, number, or address in the pitch.
- Use independently obtained firm contact details to reach the firm. The SEC/FBI alert describes using the firm’s Form CRS, or relationship summary, as one source of contact information.
- Ask the firm to confirm both the individual and the specific investment offer. Do not rely on the caller to transfer you to a supposed compliance department or provide a number to call back.
- Compare the contact’s name and affiliation against the official records. Treat unexplained differences as unresolved until the firm confirms them independently.
A legitimate record for a real professional does not authenticate someone who merely claims to be that person.
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What should I check in the investment documents?
Ask for complete written materials and check the claims against filings and other independent information. The documents should let you identify the issuer, understand the terms, and see where your money goes. If the seller will not provide clear materials, do not proceed on verbal assurances.
- Issuer: What legal entity is issuing the investment, and can you verify it independently?
- Use of proceeds: What will the money fund? Is that explanation specific and consistent across the materials?
- Your rights: What are you buying, what rights attach to it, and how and when can you exit?
- Risks and fees: What could cause you to lose money, and what charges apply?
- People and history: Can management’s identity and claimed background be verified?
- Consistency: Do the offering materials align with relevant filings and other independent information?
Sloppy errors, vague use of proceeds, unverifiable management histories, missing documents, or a company that cannot be verified in state records are warning signs. Their presence warrants investigation; it does not, by itself, establish that a particular offer is fraudulent.
Does an SEC filing mean the investment is approved?
No. An SEC filing is not a certification that the investment is legitimate, a recommendation, or proof that the seller is registered. Some private or unregistered offerings may be legitimate, so the absence of an SEC registration alone does not prove fraud. Those offerings generally do not provide some of the disclosure protections associated with registered offerings, making it especially important to understand the documents, issuer, risks, and payment recipient.
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How can I tell whether the payment request is suspicious?
Compare the recipient, account name, and destination with the verified firm and the written offering documents before authorizing a transfer. The SEC/FBI alert identifies these as reasons to stop and investigate:
- A request to pay by credit card or to send funds to a digital-asset wallet.
- A wire or check payable to an individual or a different firm than the one in the verified materials.
- A suspicious address or a payment described as unrelated to the investment.
- A request to send money abroad, which can make recovery difficult if the offer is a scam.
Do not accept an explanation for a mismatch solely from the person asking you to pay. Verify it with the firm using contact details you found independently. SEC and FBI alert on investment fraud involving digital assets and other payment requests.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Which warning signs mean I should stop and investigate?
- Guaranteed high returns with little or no risk. The SEC Office of Investor Education and Assistance states in its 2026 handout, “there’s no such thing as high guaranteed investment returns, and every investment involves risk.” Protect Your Money: How to Avoid Investment Scams.
- Urgency, secrecy, or supposed inside information. Pressure to act now or claims that everyone is buying are not substitutes for independent verification.
- An unsolicited pitch that cannot be checked independently. Do not treat polished branding or persuasive messaging as proof.
- Missing or sloppy written materials. A seller should be able to explain the investment in complete, understandable documents.
- Unverifiable identity or affiliation. Be especially cautious when names, employment, registration, or history do not match official records—or when a purported ERA offers investment advice directly to you as an individual.
- An unusual payment destination. Personal accounts, unrelated companies, digital wallets, suspicious addresses, or foreign destinations require independent confirmation.
A red flag is a reason to pause and investigate, not definitive proof that a specific offer is fraudulent.
What should I do if the checks fail?
If someone falsely claims SEC registration, the SEC advises not to trade, give money, transfer crypto assets, or share personal information with that person or firm. Report the misrepresentation to the SEC. The SEC/FBI alert also identifies the FBI’s Internet Crime Complaint Center for online fraud.
Keep the pitch, messages, documents, account and payment details, and any transaction records. These can help when making a report. Do not send more money to recover a suspected loss based on a new promise or fee; use official agency reporting channels and follow their current instructions.
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Do these checks apply outside the United States?
The databases and rules in this guide are U.S.-specific. If you are outside the United States, use your own country’s securities regulator and official registers to check the seller and investment, and independently contact the firm through verified details.
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