The USA Today recently ran a story in which they gave some tips on diligently selecting a financial advisor and encouraged investors to conduct research and ask questions prior to selecting one.

Their article notes that in today’s investment environment where Ponzi Schemes and other frauds are plentiful, there are simple things that investors can do to protect themselves and get sound advice. As Financial Industry Regulatory Authority (FINRA) investor education executive Gerri Walsh was quoted as saying, “The vast majority of investment professionals are hard-working individuals who look out for the interests of their clients and customers.” USA Today offers a few tips that can assist the investing public in ensuring they have found a reputable broker who is likely to look out for their best interest.

Here are a few of the most pertinent points made in the article:

1. Avoid mistakes that are often made by people in the market for an advisor including, “Failure to check out the background of a financial professional,” “Relying on professional designations,” and “Buying investments you don’t understand.”

2. Be wary of tactics which are sometimes used by some of the less reputable elements of the investment business including: “affinity fraud” – where fraudsters attempt to gain trust by way of relating to investors’ race, religion, or other group, “reciprocity” – a tactic where investors are offered something small, like a lunch, with the hope that the investors will feel indebted and invest in the particular investment deal which may or may not be suitable, and also “scarcity” – where investors are encouraged to act fast in order to avoid missing out.

3. The article also encourages people to research advisors, ask a lot of questions about their credentials/investment strategies, and make sure to know your own investment goals. One way to check the credentials of an adviser is by using the brokercheck.org.

If you are concerned that you have been the victim of investment fraud or believe that your financial professional’s actions have otherwise resulted in damages and would like to speak to a securities attorney about your potential to recover investment losses please contact our Chicago office at 312-238-9650.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.

For more information on The White Law Group, please visit our website at http://whitesecuritieslaw.com.