Steps to reviewing the background of your advisor or business partner

Written By Steps To Faculty Published July 21st, 2010

The recent headlines that showcase ponzi schemes and double crossing partners has lead many to want to check the background of potential advisors and partners. In fact, the United States Postal Service advocates a constant review of your own background to prevent identity theft and to check the criminal history of any person that handles your financials given the rapid increase in theft. You need to protect your interests, as advised by the Securities and Exchange Commission, given the events that lead to the demise of B. Madoff. Many were fooled and trusted the advisor with their financial future without giving thought that warning signs were there about his company. For any advisor or business partner, you need to be sure that your future will be safe and that the person you will be dealign with is above board. Let’s take a look at how you can do this.

Step 1 Utilize free services

Before you pay $80 for a standard background check, google the name of the company or the advisor’s name first. A simple online search can provide sufficient information about the criminal history, social networking sites, or even the employment history of the person in question. Type in the FIRST NAME LAST NAME CITY STATE of the person and hit the return key. See what you get.

Step 2 Sort through the results

THe online search will give you a sense of the person, but may also provide you with information that does not make any sense or that you do not really need. If the person’s name is common, then you will also get information about others, which can be confusing.

Step 3 Get a service

To be on the safe side, you can get a professional background check service for little money. This will ensure that you have the proper criminal history, employment and education records, and any bankruptcies that are pending. Try netdetective.com or intelligentinvestigation.com.

Step 4 Be reasonable

Please do remember that personal information, such as a credit history, or non public records cannot be purchased without the explicit consent of the advisor or partner. If you do not wish for the person to know that you are performing a background check, then you will have to forgo such information.

Step 5 Buy a report

There are services that can give you some basic information and let you purchase specific items that you need, such as criminal history or address verification. These vendors are ussearch.com, crimcheck.com, and intelius.com.

Remember, prevention is better than a cure because sometimes there is no cure. Please visit stepsto.com for more great business advice.


Roger Due

Investing in Your Destiny® & Coaching Program - Wealth Building Summit Dallas, Texas

My name is Roger Due and I am from Albuquerque, New Mexico and I am the owner of the Monsano software company. This has been an absolutely fantastic conference. This is the best I have ever been to.