Over the last few months, we've had a number of clients reach out about things that they have seen online. Phony ads promising massive returns and using politicians or celebrities to attract people to their sites. We can't stress enough how important it is to be skeptical of anything you see online. Sites like Facebook don't do a good job of weeding out nonsense or scams. Not only have we seen all kinds of fake stories on Facebook over the last few years, but now we are finding these investment scams too.
Please check in with us if you find an ad promising extremely high returns. It's important to note that there just aren't safe investments that can double your money within a few months. If you receive a phone call from someone saying they are with a financial institution, you are always better to call the company back on their official phone number. We can be contacted if you are ever suspicious about a call or an email you get. One of the most valuable parts of having a Financial Planner is that we can be a skeptical set of eyes on things you come across.
Be careful out there and let us know if you come across anything that doesn't look or sound right!
Bryce A. Borden