July 24, 2013

ARA & FINRA Partnerhip

The Alliance for Retired Americans has partnered with SaveAndInvest.org and FINRA (Investor Education Foundation) to help our members fight against fraudsters targeting older Americans. Anyone can be a victim of investment fraud. You are never too young or old to become a smart investor.

The FINRA Foundation initiated a research-based, social change campaign designed to reduce the incidence of investment fraud among investors ages 55 and over by helping them: 1) Recognize they are vulnerable to financial fraud; 2) Identify persuasion techniques; 3) Reduce risky behaviors by asking questions and checking information. We believe this new partnership is important because it allows us to distribute important consumer information to our Alliance affiliates, members and partners that we would not have the ability to do on our own.

Fighting Investment Fraud 101, Smart Tips for Investors 

Below are some of the steps you can take to help you invest wisely.

Ask and Check

If a salesperson is trying to sell you an investment, ask the right questions and check them out by following these steps.

Know What to Say When a Con Calls You

You can outsmart the cons. Watch this short video (3 min. 10 sec.) to see the wrong way http://www.youtube.com/watch?v=9PtCxXTUhJg&feature=player_embedded —and right way—to handle a sales call from a fraudster. Remember, the word “No” is more powerful than any con man.

BEFORE YOU WORK WITH A BROKER OR OTHER FINANCIAL SALESPERSON:

Ask. Who are you licensed with to sell me this? Are you a licensed broker? Is that investment registered?

Check. If they say they are licensed, check out their background. http://www.saveandinvest.org/ProtectYourMoney/AskandCheck/P124314

 BEFORE YOU BUY AN INVESTMENT PRODUCT:
Ask. Is this investment registered with the SEC?

Check. If you are told it is, verify that the investment is indeed registered with the SEC. http://www.saveandinvest.org/ProtectYourMoney/AskandCheck/P124321

 Additional Resources Available at your request:
Presentation Flipchart
Curriculum PowerPoint cd
Take home DVD
Fighting Fraud 101 brochure
Avoiding Investment Scams Investor alert handout
For more information or to get materials:

State: Emily Stuart (312) 427-2114 x 207 or illinoisara@gmail.com

National: Michelle Campbell 202-637-5361 or mcampbell@retiredamericans.org

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