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Right Column

Financial Safety Tips — Easy to Remember Do's & Don'ts for Investors

• Beware of unsolicited telephone calls from strangers offering get-rich-quick schemes. They promise fast profits and usually do not deliver. If an investment sounds too good to be true, it probably is. Ask yourself why such a great deal is being offered to complete strangers.
• Shy away from high pressure tactics designed to part you from your money before you have a chance to think about or investigate the investment.
• Avoid investments where the seller has little or no written information about the company or written information about past performance. Before investing ask for a company prospectus, but remember, even a prospectus is not evidence of legitimacy. Read all materials carefully, ask questions and check with experts.
• Be wary of investments sold on the basis of rumors or tips. Investments based on "inside information" are illegal and are designed to trick you into thinking you have the inside track.
• Have a professional (licensed stock broker, licensed investment adviser, accountant, lawyer or financial adviser) review the investment for you. Remember this is not a guarantee of success but their experience and expertise may help you navigate the complex financial marketplace.
• A critical step in wise investing for any individual investor is taking the time to check the backgrounds of potential brokers and advisers prior to entering into financial relationships with them. Information or complaint forms my be obtained by calling any of the Department of Corporations' four state offices: Los Angeles (213) 576-7505; San Francisco (415) 557-3787; Sacramento (916) 445-7719 and San Diego (619) 525-4233; or, by accessing the Department of Corporations Web site at www.corp.ca.gov.
• With respect to telemarketing and seller-assisted marketing plans, the California Attorney General's Office, or your County District Attorney's office can help you determine whether the company or individuals are licensed or have any negative history.
• Depending on your choice of investment vehicle, it is wise to verify the license with appropriate governmental agencies. If the investment is equities, check with the Securities and Exchange Commission. If your investment involves commodities, call the Commodity Futures Trading Commission, or if you are planning to invest in a national franchise, you should contact the Federal Trade Commission.
• If you are planning to invest in a non-public company, contact various consumer organizations, such as the Better Business Bureau, National Fraud Information Center and American Association of Retired Persons to determine if the companies or promoters have any negative history.
• Do not purchase any investment that is offered over the Internet, through newspaper advertisements, on the radio or on television unless you check with the appropriate regulatory agency or with a licensed broker-dealer to determine if the company is licensed.
• When in doubt about a potential investment, wait. Remember, even with legitimate investments there is always the risk of losing money. If you do not understand the investment, stay away from it. Trust your instincts. A lack of understanding on your part may be caused by the fact that the investment really doesn't make any sense.