Investing is a great way to grow wealth and achieve financial goals, but you must be aware of potential frauds and scams that can put your hard-earned money at risk. Here are tips to help you protect your finances:
Seek a Second Opinion
You must approach unsolicited investment opportunities with caution, whether presented via phone, online, or by acquaintances. Prior to investing, it is advisable to seek a second opinion from a qualified and registered advisor, lawyer, or accountant.
In most cases, individuals who sell securities or provide investment advice must be registered with their respective provincial securities regulator.
Allow Yourself Adequate Time
Don’t make hasty investment decisions and take the time necessary to evaluate all investment opportunities.
Conduct Investment Research
Before you make any investment, understand how it works, the risks involved, and any fees. Make sure it fits with your financial goals and your other investments.
Investments fraud can be devastating, that’s why avoiding fraudulent investment schemes is critical for protecting your finances and investments. Talk to one of our experts at TurnedAway.ca to get professional guidance before making that important decision.