Get in the Game: Leave Armchair Quarterbacking for the Super Bowl
We’re often passionately involved in our favorite sports teams and
landmark face-offs; we cheer our favorite athletes, check their stats
throughout the season, and wait to see who emerges victorious. If only
investors could turn that gridiron dedication into vigilance in their
own financial futures.
If each time you checked a score, you also opened a statement or checked
your portfolio online, just imagine how ahead of the game you could be!
If instead of focusing on NFL point spreads, you tried speculating on
your own financial over/under, you’d be taking a more strategic
approach to your investment game plan.
Here are a few ways to stay off the sidelines and get in the investing game:
Use this weekend to touch base with your broker. Drop him or her an email or leave a phone message and request some one-on-one
coaching, especially if it’s been 12 or more months from your last
contact. If you never hear back, be ready to throw aninvestment flag.
Check your roster. Use
FINRA’s BrokerCheck to look up your brokers and advisors and to check out their recent playbooks.
Review any reported disciplinary actions carefully.
Skip the Hail Mary and actually OPEN your statements. It’s
tax season, so you should be getting them now anyway, which makes it an ideal time
to return to the basics. Here are some key plays to look for that could
bad broker or bad investment.
Go Long! Compare your investment documents and statements from this year to the
past three or five years. Look for patterns of
unusual investment activity, such as big losses, unapproved transactions,
or large fees that don’t make sense. Consider the documents in light of what you
were initially promised or initially understood about your accounts, and
make sure the promises meet the reality.
Enjoy the Big Game this Sunday! It’s sure to be an exciting match
up down in New Orleans. Just make sure you also take some time to be your
own MVP and not the underdog.
About our law firm:
Meyer Wilson represents individuals across the country who have been harmed
by investment fraud. All of our cases are handled on a contingency fee
basis and we never request a retainer of any kind. Contact us for more
information or complete the online form on the top of this page and we
will respond promptly.