NSSC Blog: Before You Invest

Offshore Investment & Pension/Retirement Scams

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No one likes paying taxes. Scam artists know this and often try to use it to pull off a scam. However, just because someone says they can save you taxes on your investments doesn’t mean they can, nor does it mean they can do so legally. Enter offshore investment and pension/retirement scams. 

Offshore investments scams promise a high rate of return for an investment in an offshore market. They’ll also throw in the caveat that an offshore investment is a great – and legal - way to avoid taxes.

Question of the week: Are investment seminars scams?

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The honest answer to this question is maybe. It all depends on the seminar you are attending. Is this an educational seminar, or a seminar where a product is being pitched and sold? Investment seminars, or free lunches, are a common and relatively easy way for salespeople to promote and sell investments. However, the investments are not always right for those who attend the seminars.

March is Fraud Prevention Month!

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March is Fraud Prevention Month so for the entire month we’ll be publishing special posts on investment fraud. Along with our usual Question of the week posts that come out every Wednesday, we’ll be upping the ante with Fraud Friday. Every Friday throughout March we’ll publish a post on investment fraud. We’ll be talking about various scams, of which Nova Scotians need to be mindful, includng affinity fraud, forex scams and binary options.

Question of the week: What are the warning signs of investment fraud?

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March is Fraud Prevention Month and throughout the month we’ll be focusing on fraud. Today’s question is all about how you can spot investment fraud and scams and avoid losing your money.

Unfortunately, there are many fraudsters out there looking to take advantage of people looking for the next get-rich-quick investment to earn them big money. Knowing the warning signs of fraud will help you tell the difference between what fake and what’s real. Here are a few of the warning signs to look for…

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

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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?

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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.

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