DON”T LET SOMEONE “MADOFF” WITH YOUR MONEY!!

It’s been five years since Bernie Madoff’s massive ponzi scheme unraveled.  Hundreds of investors are still reeling and left traumatized by what Madoff did.  Some lost everything. Here’s a few pieces of advise you can use to protect your investments:

1.        Work with a fee-only advisor, one who is required to act in fiduciary capacity.


2.       Make sure your advisor uses an independent custodian to hold the investments.  The custodian is required to send you a statement.  The advisor and custodian numbers should match!

3.       Read your advisors form ADV disclosure statement to identify any conflicts of interest.  

4.       Read your advisors business card and web site disclosures.  If you see any mention of products; insurance, FINRA, broker-dealer etc., your “advisor” can earn commissions from selling you something and might not be working in your best interests.

5.       Check the SEC’s website to see if your advisor has been in trouble – http://www.adviserinfo.sec.gov/IAPD

6.
       Trust your gut instinct.  If something seems too good to be true, it probably is.

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STAY INFORMED

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