ATTORNEY NEWSLETTER
SEC Offers Important Suggestions For Senior Investors
Know The Investment Professional Or Salesman You Deal With
Ask Questions And Never Be Rushed Into Decisions
The U.S. Securities and Exchange Commission (SEC) in recent years has focused considerable enforcement efforts on financial elder abuse and fraudulent investment schemes aimed at seniors. As part of that enforcement effort and its larger mission of investor education, the SEC publishes “A Guide for Seniors” as a service to older investors with some tips for older consumers.[1] The SEC’s Office of Investor Education and Advocacy advises seniors that if they need help understanding securities laws or have been victims of fraud to consult with counsel. Ingrid M. Evans and the other financial elder abuse and investment fraud attorneys at Evans Law Firm, Inc. represent senior victims of any type of financial elder abuse, including securities fraud or the sale of unsuitable investments or annuities to seniors. If you or a senior loved one has been the victim of financial elder abuse here in California, call us today at (415)441-8669 and we can help.
SEC Suggestions
In its senior investor guide, the SEC offers senior investors ten important suggestions regarding investments and investment salesmen:
- Ask questions and check out the answers.
- Research any company before you invest.
- Never judge a person’s integrity by how he or she sounds.
- Know the investment professional.
- Watch out for advisors who prey on your fears.
- Take your time – don’t be rushed into investment decisions.
- Be wary of unsolicited offers.
- Don’t lose sight of your investments. Never rely on an advisor who says “leave everything to me.”
- Question why you cannot retrieve your principal or cash out on “profits.”
- Never be afraid to complain.
Red Flags for Investment Scams
The SEC also offers some red flags of investment scams or unsuitable offers:
- If it sounds too good to be true, it is. Compare promised yields with current market yields. Any investment opportunity offering you substantially more than market rates means the offer is probably very risky, if not outright fraudulent.
- “Guaranteed” returns are never truly guaranteed. Every investment, like a deferred annuity, carries dome risk. If someone says you “can’t lose” don’t believe them.
- Beauty isn’t everything. Don’t be fooled by an attractive website; they are easy to create.
- Never bend to pressure to send money NOW. When a salesman tells you that it is a once-in-a-lifetime offer that will be gone tomorrow, don’t believe it.
Contact Us
Ingrid M. Evans and the other financial elder abuse attorneys at Evans Law Firm have years of experience litigating financial elder abuse cases throughout the State of California. We know how to investigate these cases, initiate a lawsuit, and pursue all available remedies for elder victims against all persons or companies responsible for the loss. Remedies include recovery of attorneys’ fees and expenses in certain cases. If you need assistance, call us today at (415) 441-8669, or email <a href=”mailto:info@evanslaw.com”>info@evanslaw.com</a>.
[1] You can access the SEC guide here: https://www.sec.gov/investor/seniors/guideforseniors.pdf.
