Comments on: How to Protect Your Investments Against Fraud http://wealthpilgrim.com/how-to-protect-your-investments-against-fraud/ WealthPilgrim.com -No Money Worries. No Matter What. Tue, 22 May 2012 13:10:32 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: John Gay, CFP® http://wealthpilgrim.com/how-to-protect-your-investments-against-fraud/#comment-4609 John Gay, CFP® Fri, 23 Apr 2010 14:25:54 +0000 http://wealthpilgrim.com/?p=14069#comment-4609 Another thing you can do to protect yourself is to work with an adviser that does not have trading authority or power of attorney over your accounts. Not many of us out there, though... Another thing you can do to protect yourself is to work with an adviser that does not have trading authority or power of attorney over your accounts. Not many of us out there, though…

]]> By: Evan http://wealthpilgrim.com/how-to-protect-your-investments-against-fraud/#comment-4554 Evan Mon, 19 Apr 2010 17:18:51 +0000 http://wealthpilgrim.com/?p=14069#comment-4554 Here is a better picture: http://devlin-consulting.com/wordpress/wp-content/uploads/2009/12/madoff-earnings-statement-page2.png Here is a better picture:

http://devlin-consulting.com/wordpress/wp-content/uploads/2009/12/madoff-earnings-statement-page2.png

]]> By: Evan http://wealthpilgrim.com/how-to-protect-your-investments-against-fraud/#comment-4553 Evan Mon, 19 Apr 2010 17:16:08 +0000 http://wealthpilgrim.com/?p=14069#comment-4553 Absolutely had statements. Monthly statements. With CUSIP and Fractional share numbers. I just googled it (cause I am not asking him for anything lol): http://www-tc.pbs.org/wgbh/pages/frontline/madoff/art/financial_slip.jpg Here is an image of just one trade from PBS. Absolutely had statements. Monthly statements. With CUSIP and Fractional share numbers.

I just googled it (cause I am not asking him for anything lol):

http://www-tc.pbs.org/wgbh/pages/frontline/madoff/art/financial_slip.jpg

Here is an image of just one trade from PBS.

]]> By: Jack Foley http://wealthpilgrim.com/how-to-protect-your-investments-against-fraud/#comment-4549 Jack Foley Mon, 19 Apr 2010 16:30:55 +0000 http://wealthpilgrim.com/?p=14069#comment-4549 First, NASD is now called FINRA. They have "BrokerCheck" on their website (www.finra.org) that provides all sorts of great information very quickly. SEC has something similar. However, don't stop there. The phone number for the head office of the firm you're looking to work with is listed there. Call them, ask for compliance and ask about the broker. They may not say much but at least you'll know there are no current problems. I know of a small firm that had it's identity hi-jacked by someone who engaged in Madoff type of schemes. How was it found out - someone called the head office. Here's an article on him (http://bit.ly/bPFN7V). Finally, if you get one of those "feelings" run for the hills. You need to be comfortable with your choices. First, NASD is now called FINRA. They have “BrokerCheck” on their website (www.finra.org) that provides all sorts of great information very quickly. SEC has something similar.

However, don’t stop there. The phone number for the head office of the firm you’re looking to work with is listed there. Call them, ask for compliance and ask about the broker. They may not say much but at least you’ll know there are no current problems.

I know of a small firm that had it’s identity hi-jacked by someone who engaged in Madoff type of schemes. How was it found out – someone called the head office. Here’s an article on him (http://bit.ly/bPFN7V).

Finally, if you get one of those “feelings” run for the hills. You need to be comfortable with your choices.

]]> By: Neal http://wealthpilgrim.com/how-to-protect-your-investments-against-fraud/#comment-4555 Neal Mon, 19 Apr 2010 16:21:17 +0000 http://wealthpilgrim.com/?p=14069#comment-4555 Evan...I get it..but your buddy got statements from Bernie..not the custodian...which is my point. Evan…I get it..but your buddy got statements from Bernie..not the custodian…which is my point.

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