I’m not sure about you, but talking about money with anyone besides my spouse, has always made me a little uncomfortable, so starting a relationship with an investment professional has been a daunting task. It is overwhelming providing this professional with all of our personal and financial information. Although, this financial professional comes highly recommended I still had nagging concerns.
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With all the recent stories about financial brokers stealing their client’s money, how do I know this broker would not cheat us?
So we did our due diligence and checked him out. And you know what? We found out some things we were not comfortable with, so we stopped using him. I am so glad we checked him out. Have you checked out your broker?
Together, AARP ElderWatch and other state and National partners have joined forces with the FINRA Investor Education Foundation's Investor Protection Campaign to help educate older adults about investment fraud. The campaign, also known as Outsmarting Investment Fraud, is a targeted effort to reduce the incidence of investment fraud among investors by teaching the tactics most commonly used by fraudsters and the simple steps every investor can take to reduce their risk.
Did you know that according to FINRA Foundation research, only one-third of investors (34 percent) have checked the licensing of their investment professional—and even fewer (20 percent) researched whether the individual had broken any laws. Similarly, most investors (68 percent) have not checked whether an investment is registered with federal or state regulators before making an investment decision.
Are you one of those 65% that has not checked out your investment professional? I sure hope not. But if you are, now is the time to check and learn to spot and avoid investment fraud.
Learn these steps and more from experts who uncover the tricks criminals use to trap their victims. “Trick$ of the Trade: Outsmarting Investment Fraud” is a new documentary that opens up the con criminal’s playbook. Utilizing both humor and compelling stories of real-life victims and perpetrators, the film explores who is at risk, how fraudsters use persuasion to carry out their schemes and what simple steps investors can take to prevent costly mistakes.
The film’s three-part message of risk, persuasion and prevention has been shown to reduce the incidence of fraud by approximately 50 percent. So take the time to get your free copy of this important documentary. Share it with family and friends because it will empower you to take charge of your financial future and could save you from losing thousands of dollars to someone you thought you could trust.
Order the free DVD and learn more on avoiding investment fraud.
Take the time to protect yourself.
Amy Nofziger is the director of AARP ElderWatch in Colorado.