NSSC Blog: Before You Invest

Question of the week: How do I find an adviser that’s right for me?

Everyone needs some help sometimes. Even with investing. Choosing the right adviser for you is important to reach your financial goals. An adviser can help manage your investments for you if you are not comfortable doing this work yourself due to a lack of knowledge, time or interest.

When you’re looking for the right adviser there are some quick questions you can ask yourself and your potential candidates to make sure you get the most out of the client-adviser relationship.

Are they registered?

Question of the week: What are some common investments?

The list of investments for your money is endless. You could invest in real estate, comic books, baseball cards, or even an emu farm. We’ll be staying away from the collectables and animals today though. The common investments we’ll be examining are the products you might commonly find offered at your local bank, or by a financial adviser or broker.

Question of the week: How do I get started with investing?

Unfortunately, there is no one blue print to follow to get started with investing or a one-size-fits-all plan. There is no magic formula or steps you can follow to ensure you’ll become a successful investor. Remember, the adage, if it sounds too good to be true – it probably is? That rings true for investing as well.

That all being said there are initial steps you can take when you start investing to make sure you invest wisely and safely.

Fraudsters using famous face to push binary options.

The Ontario Securities Commission (OSC) issued a new investor alert this week, concerning a new binary options advertisement scam using Conservative leader candidate and business man Kevin O’Leary.

Several binary options companies have been using O’Leary’s face and acknowledgement in advertisements for their investments and platforms without permission.

Question of the week: What is investing, and how is it regulated?

The dictionary definition of investing is… “expend money with the expectation of achieving a profit or material result by putting it into financial schemes, shares, or property, or by using it to develop a commercial venture.” That’s quite a mouthful. No one talks like that though, so let’s make things a little simpler.

Question of the week: What does the enforcement branch do?

As their name suggests the Enforcement Branch's mandate is to enforce securities laws. Any complaint the commission receives from the public is handled by Enforcement. We investigate these complaints and allegations of misconduct in the capital markets. If the allegations are found to be true we can initiate proceedings against the accused. These allegations could include unlicensed trading or advising in securities, non-disclosure, or targeting investors with scams or fraud.

Happy New Year and welcome to 2017!

As we start off a new year, the Before You Invest blog is getting a new start as well. We’ll still be doing periodic posts on new legislation, scams and investment news that Nova Scotians need to know about. We’ll also be getting back to the basics for those new to investing and securities with our new Question of the Week. Every Wednesday we’ll post a new question with the answer from our experts at NSSC. We’ve got the first few questions ready to roll out this month, but we also want to hear from you. What do you want to know more about?