Seniors "Free lunch" educational seminars
The North American Securities Securities Administrators Administration has issued an ALERT on these so -called “ Free lunch “ seminars.
State securities regulators warn senior investors to be aware that a combination of “free lunch” seminars, misleading professional “senior specialist” designations, and abusive sales practices can create a perfect storm for investment fraud. Remember: there’s no such thing as a free lunch.
Many individuals over the age of 50 have received an invitation in the mail offering a free lunch or dinner investment seminar. There’s a certain consistency to the invitations enticements: a free gourmet meal, tips on how to earn excellent returns on your investments, eliminate market risk, grow your retirement funds, and, spouses are urged to attend. These words should be red flags for investors.
And while the ads may stress that the seminars are “educational,” and “nothing will be sold at this workshop,” many of these seminars are intended to result in the attendees’ opening new accounts with the sponsoring firm, and ultimately, in the sales of investment products, if not at the seminar itself, then in follow-up contacts with the attendees. Seniors seeking educational insights and information should be aware that the primary goal of the sponsors of these free meal seminars is to obtain new customers and sell investment products.
Here are some recent seminar titles our readers have told us about :
Invest like the millionaires -exploit low interest rates- borrow to invest
Opportunities in Equity Crowdfunding- Find the next Apple
Using Home Equity to magnify returns
New hedge fund offers exceptional opportunity
New tax strategies to save you $$$
Why Segregated funds fit into your Portfolio
Exploring the Exempt Market
Market linked annuities perfect for retirees
Making superior returns in volatile markets
Fee based accounts offer piece of mind and cost savings
When commuting a pension makes sense
The venues and meal offerings are enticing.The invitations are beautiful - comparable to wedding invitations.
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