Learn the basics of fraud prevention, personal finance, and investing.
Do a background check on your financial advisor to see if he has had any complaints by his clients, pled guilty to certain crimes, had any regulatory actions and settlements against him, liens that have not been satisfied, and review 10 years of his employment history. You can also review similar information about the firms your advisor has worked at to see if the firm is reputable based on their regulatory history.
PLEASE DO THIS.
BrightLights' blog post Where Is the Data on Fraud with Professional Athletes? detailed the similarities between pro athletes and corporations. Athletes should understand the anti-fraud controls and risk management techniques that corporations put in place to prevent fraud from occurring. The following are some resources explaining this in much more detail:
The following websites provide basic guidelines and principles to follow to help prevent fraud from occurring in your accounts:
All of these sites are completely free and no email or signup is required to access all the information you need to educate yourself about personal finance and investments.
You will almost always be able to find an answer to whatever question you may have through these forums because odds are that someone else has wondered the same thing. The advantage of a forum is that you can get involved and ask questions! Remember the cardinal rule of forums: Before you submit a question, make sure your question hasn't been asked and answered before!
These are the individuals revered within the personal finance community, the individuals who have given their time and efforts to educate us on the rights and wrongs of personal finance and investing. It is truly inspiring to see these amazing minds provide great advice for free.
The main regulators of the financial markets and financial advisors are the Securities Exchange Commission (SEC) and the Financial Regulatory Authority (FINRA). Despite their lack of resources, their sites provide an abundance of information and education.