Can You Smell a Scam? Recently Trained Members Can.

Last Tuesday evening, fifteen SEA/SEIU 1984 members attended a new training offering – Women & Investing. The training was co-presented by Tom Boulter and Atty. Kevin Moquin, both from the New Hampshire Bureau of Securities Regulation, which is part of the Secretary of State’s office.

Participants in the training were presented information about the numerous and varied scams that exist, primarily through telephone or email communication.  Women are more frequently targeted by flimflam artists because traditionally, women are less confident about financial matters. The presenters were quick to point out that women are every bit as intelligent – however research supports they are less confident in their own knowledge and in risk taking related to financial decisions.

They presented information that will help you spot trouble – the warning flags to look for when you are either approached by or select a financial advisor. Such signs include shady sales tactics, big promises, and spotty documentation.

“This was a great workshop and I would recommend it to anyone,” said Santina Thibedeau, Chapter 44.  “It was very interesting to learn how scam artists’ prey on your emotions  and how you should always take an extra moment when you are giving personal information to someone over the phone.”

“Life is so busy it’s easy to lose track or put off taking care of important things like retirement plans,” said Joanne Lahaie, a member from Chapter 24.  “ I really appreciate the SEA offering me the opportunity to become better informed on investing my savings.    The workshop was convenient and the gentlemen from the NH Securities Bureau shared their knowledge so generously.”

Another attendee, Karen Crowley, Chapter 21 had this to say, “I found the workshop very informative and well presented. I gained knowledge on preventing fraud and about what kinds of questions to ask when looking for investment advice. The handouts provided were great too. I would recommend this workshop to any woman looking to educate and protect themself from scams.”

Attendees received take-home packets containing a wealth of information ranging from how to access a database that rates the integrity and performance of financial advisors from all over the country to ways to protect yourself from opportunists.  Interestingly, the items in the packet were purchased through the fines paid by NH scammers and others who did not abide by the law.

The second session of the two-part workshop presented information about various investment tools (or products). Attendees were pleased with the program and we hope to repeat it in the fall.  Watch your Notices for future details.

In the meantime, check out this link to see the Investor Bill of Rights.

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