Are There Any Financial Products That Should Raise "Red Flags" For Me as an Ohio Senior Investor?

 

A: While there are few products that are always bad, the North American Securities Administrators Association (NASAA) has identified five products that deserve special scrutiny by senior investors. Those products include:

• Exchanged Traded Funds (ETFs): ETFs may be highly volatile, highly complex, and unsuitable for typical investors.
• Foreign Exchange Trading Schemes: When properly run, foreign exchange trading is often beyond the reach of an individual investor. Foreign exchange trading schemes, however, may also be Ponzi schemes.
• Gold and Precious Metals: Investors may be investing in gold or other precious metals that don't exist.
• Green Schemes: Investments tied to energy efficient or environmental causes may be a scam.
• Oil and Gas Schemes: Oil and gas tend to be very risky for individual investors.

If you believe that you may have been the victim of Cleveland stockbroker fraud, then it is important to seek the advice of an experienced Ohio investment fraud lawyer. Meyer Wilson is the only Ohio law firm exclusively dedicated to individual and class action investor claims.

We invite you to learn more about the signs of financial fraud in our free book Five Signs of Investment Fraud...And What to Do if it's Happened to You and to contact an experienced Ohio investment fraud attorney at 614-224-6000.

*Source: North American Securities Administrators Association, Fraud Center, Top Investment Traps