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How to Recognize a Free Lunch Seminar Investment Scam

Watch more How to Invest Your Money videos: http://www.howcast.com/guides/37-How-to-Invest-Your-Money Subscribe to Howcast's YouTube Channel - http://howc.st/uLaHRS Learn to recognize a free lunch seminar investment scam with these tips on fraud protection. Howcast uploads the highest quality how-to videos daily! Be sure to check out our playlists for guides that interest you: http://howc.st/ytmainplaylists Subscribe to Howcast's other YouTube Channels: Howcast Health Channel - http://howc.st/HOE3aY Howcast Video Games Channel - http://howc.st/tYKKrk Howcast Tech Channel - http://howc.st/rx9FwR Howcast Food Channel - http://howc.st/umBoJX Howcast Arts & Recreation Channel - http://howc.st/vmB86i Howcast Sports & Fitness Channel - http://howc.st/vKjUjm Howcast Personal Care & Style Channel - http://howc.st/vbbNt3 Howcast empowers people with engaging, useful how-to information wherever, whenever they need to know how. Emphasizing high-quality instructional videos, Howcast brings you experts who provide accurate information in easy-to-follow tutorials on everything from makeup, hairstyling, nail art design, and soccer to parkour, skateboarding, dancing, kissing, and much, much more. Step 1: Educate them Explain that many free-lunch seminar presenters claim that "nothing will be sold" at the actual presentation. But odds are anyone who goes will get a sales pitch at a later date -- sometimes using high-pressure tactics. Tip Download "How to Spot a Free Lunch Scam," which lists the 5 most common persuasion tactics, at "createthegood.org":http://createthegood.org/. Step 2: Ask the right questions If the presenter tries to sell anything, tell your friend to ask these 3 questions: Are you licensed to sell this product? Who are you registered with? And, is this investment registered with the U.S. Securities and Exchange Commission? Tip Most investments must be registered with the SEC. All investment professionals must be registered with the Financial Industry Regulatory Authority known as FINRA, the SEC, or their state securities regulator. Step 3: Check the answers Stress the importance of checking the seller's answers, and offer to help do it. Look for proof of registration of the seller _and_ the product. "SaveAndInvest.org":http://www.saveandinvest.org/ can walk you both through the vetting process. Or call (888) 295-7422. Step 4: Report suspicious information Urge them to report any irregularities to the proper authorities -- FINRA, the SEC, or their state securities or insurance regulator. "SaveAndInvest.org":http://www.saveandinvest.org/ can help you determine where to report your suspicions. Step 5: It's OK to walk away If the professional is not registered and the product is not registered, tell your friend to walk away. Step 6: Become a monitor Become a Free Lunch Monitor -- someone who audits free-lunch financial seminars and workshops and reports any suspicious activities. You or your friend can download the Free Lunch Monitor tool kit at "createthegood.org":http://createthegood.org/, and use the checklist found in the how-to guide to rate investment presentations and submit your ratings to AARP. Did You Know? In a national survey by FINRA, 3 times as many known victims of investment fraud went to a free investment seminar as the general population.
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