College savings scams

Volatile Markets and College Savings Scams

Are you worried about what the up and down investments are doing to your retirement savings or your children’s college funds? Volatile markets provide an even more fertile field for con men and scams. Your best line of defense is to be skeptical and do your homework.

Mark Beauchamp, a spokesman for North American Securities Administrators, advises "Invest no money without first getting details in writing and reading the prospectus. If you’re told you must act immediately - forget it, legitimate investment companies shouldn’t pressure you. Ask for references and check them. Check the proposer’s history and credentials with regulators, then run the plan past a financial advisor you trust. Finally, when it comes to money, trust no one. Not even members of your own family. They may knowingly or unknowingly be perpetuating a fraud," he said.


	Web site coordinators: Jamie Thompson Sandra McKinnon Site evaluation: Cynthia Crawford Last updated: March 09, 2005	Web site established by: Kate Akers Mark Belwood Cynthia Crawford Sandra McKinnon Diana Hammond

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