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4 ways to avoid investment scams

1. Get a second opinion

Be skeptical of unsolicited investment opportunities – over the phone, online or from acquaintances. Before you invest, get a second opinion from a registered, qualified adviser, a lawyer or an accountant.

2. Check registration

Generally, anyone selling securities or offering investment advice must be registered with their provincial securities regulator. Check registration through the Ontario Securities Commission or Canadian Securities Administrators.

3. Take the time you need

Be suspicious of time-limited offers and high-pressure salespeople. If the investment is legitimate, you should not have to invest on the spot. Take the time you need to make an informed decision.

4. Research the investment

Before you make any investment, understand how it works, the risks and any fees. Make sure it fits with your financial goals and your other investments.

Choose your investments – don’t let them choose you
If you have a financial plan, you can evaluate any new opportunities in relation to your plan. You’ll be more likely to choose appropriate investments if you consider how they fit with your goals and risk tolerance.
 

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