The Importance of Keeping Your Records Updated

Smart shoppers know to keep their receipts when making purchases around the holidays, just in case. Smart investors should take note of this practice – while it’s not quite as straightforward as keeping a slip of paper, keeping good records of your statements, transactions and other related account information will help you keep a close eye on your investments.

Investment accounts generate a significant amount of paperwork, such as records of dividends and distributions paid, tax records, account statements, and trade confirmations. While the sheer volume of information investors receive may feel overwhelming at times, it’s imperative to manage and review your account information to make sure that no unauthorized transactions took place and all instructions gave were followed.

Even with the shift towards a completely paperless world, it may be in your best interest to keep hard copies of key investment records on hand. This way, you’ll have an easily accessible set of information when the need arises. Of course, keeping track of your investment information is vital for tax reasons, but can also help protect you from investment fraud. By maintaining these records, you will be able to identify any discrepancies and potentially catch any misconduct before it has a chance to cause serious damage.

Even perfect recordkeeping cannot prevent every instance of investment misconduct. If you were the victim of investment misconduct, contact Meyer Wilson today. Our attorneys have spent nearly two decades representing clients across the country and have successfully recovered hundreds of millions of dollars in verdicts and settlements during that time. Call us at one of our office locations, or fill out our online form to start out with a free case evaluation today.

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