Vermont Public Television

Talk About Investments To Help Parents Avoid Fraud

(NAPSI)—Most children turn to their parents for financial guidance. Sometimes, however, it’s the parent who needs help.

Older people are regularly targeted by fraud criminals because they have money, whether it’s retirement savings, home equity or steady forms of income. Experienced investors may also believe they’re too smart to be scammed. Research funded by the FINRA Investor Education Foundation shows, surprisingly, that financially savvy, self-reliant investors are more likely to be victims of fraud than those who are less knowledgeable.

“Investors who are overconfident about their ability to spot a ‘great opportunity’ are less likely to ask for help and advice from others,” said Gerri Walsh of the FINRA Foundation. “And that’s exactly what fraud criminals want.”

Adult children should talk to their parents about investment fraud and be sure they are familiar with the tactics that fraud criminals use, Walsh said.

“Trick$ of the Trade: Outsmarting Investment Fraud,” a documentary produced by the Foundation and airing on public television stations, explains these tactics and the steps that investors can take to protect themselves. Free copies of the movie can be ordered on the Foundation’s fraud-fighting website, www.SaveAndInvest.org . The website also offers information on how to check the background of a financial professional and the legitimacy of securities.

“It may be hard for some people to talk about money,” Walsh said, “but getting your parents to come to you or someone else they trust for a second opinion before making an investment decision is a good way to avoid trouble.”

It is a discussion Robert said. “I felt rotten. I was supposed to protect everybody...but I did not see this coming.”

Checking the advisor’s registration to sell securities would have revealed that he was no longer licensed. The advisor was eventually charged with embezzlement and grand larceny but died before the trial.

Vermont Public Television's Vermont Maple Gift Box | Dakin Farm

Ever thought of donating to Vermont Public Television (VPT) during their on-air, annual maple fund raiser?

Anyone who donated $120 or more to VPT, was sent a Vermont Maple Gift Box containing delicious maple syrup, maple sugar, maple mustard, maple barbecue sauce and many other maple specialties donated by maple producers across the state. Dakin Farm contributes pancake mix, all the gift packaging and ships it all to the donors door!

This is one of the most successful fund raisers for VPT each year and in coordination with maple specialty suppliers in the state, the VPT Vermont Maple Campaign has raised over $11,000 for Vermont Public Television in 2011 alone! Please think about supporting VPT next year during the on-air maple fund raiser and we will send along a wonderful array of Maple goodness from Vermont!

In the picture to the right, representatives from Vermont Public TV, Dakin Farm and the Vermont Maple Industry Pack Maple Gift Boxes to be sent to VT Public TV Donors.

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