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Bank Of America Investment By Hartley Bernstein

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Investment Opportunity (AXcess News) New York - Regulators are urging senior citizens to carefully check the credentials of investment advisors who claim to be "senior specialists." The North American Securities Association (NASAA) warns that some of these supposed specialists may create false comfort and increased expectations by suggesting that they have been trained to craft appropriate investment portfolios for seniors. In reality, while they may call themselves "senior specialists" these individuals are garden-variety aggressive sales people employing sales and marketing skills to target vulnerable seniors.

Remember, a good financial planner should help you get a clear picture of your financial situation and lay the foundation for future investment decisions. Beware of planners who offer few or no alternatives in your investment plan, which may indicate the planner's intent to steer you into a fraudulent scheme or sell a specific product for the commission. Similarly, pressure sales tactics or promise unusually high rates of return on investments. Be on guard for possible Ponzi schemes that can masquerade as tax shelters, precious metals, commodities, tech stocks, and other investment vehicles.

Banc Of America Investment Seniors should be aware that these bogus specialists use a variety of means to peddle their wares, including unsolicited telephone calls and mailings. Many of the phony operators conduct seminars where they target seniors. They act as investment advisors- although they often are not registered as such - seeking to gain the trust of elderly investors by reviewing their existing portfolios, recommending the liquidation of all current holdings, and suggesting the purchase of indexed or variable annuity products offered by the specialist.

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Banking Investment NASAA's Investment Advisor Operations Project Group reports a significant increase in designations- including an alphabet soup of letters following the specialist's name- that are designed to suggest "a certain level of training on issues important to the elderly, according to NASAA President and Wisconsin Securities Administrator, Patricia D. Struck. The value of those designations may vary. While some legitimate organizations require their members to complete rigorous programs and demonstrate their skills in order to merit designation as a "specialist," other entities impose far less stringent requirements. Unfortunately, investors do not generally have sufficient information to distinguish legitimate credentials from their worthless counterparts.

As a result, executive search firm, A.E. Feldman, says that as investors boost their exposure to alternative investments, candidates who have a comprehensive understanding of the risks and benefits of the various asset classes and investment strategies are in growing demand. Hedge funds, in particular, are on the hunt for talent. According to a recent FT report, “The biggest hedge funds are on a hiring binge, taking advantage of cutbacks at investment banks to recruit star traders, senior executives and whole teams to help them expand.”

Investment Solution Strategic According to Struck, over the past year securities regulators in the eastern United States have initiated 26 cases involving "senior specialists." Most of those cases involve claims of improper licensing. In one recent action, Massachusetts securities charged Investors Capital Corp. with misleading investors, especially seniors, into buying equity-indexed annuities- complex securities with high commissions and severe penalties for early withdrawal. In that case, the firm's representative conducted a seminar where he stated that his "Certified Senior Adviser" (CSA) designation indicated that he had been specifically trained to manage and solve financial problems facing seniors In fact, he received by taking a three-day course or a home course, followed by a multiple-choice exam.

An SRES® designee can help you make wise decisions about selling the family home, financing, buying rental property, or managing the capital gains and tax implications of owning real estate, among many other issues. In addition to guiding clients to the right experts on tax laws, probate, estate planning, and a variety of equity conversion strategies, Seniors Real Estate Specialists® can offer clients relevant information on current trends in senior real estate transactions."

Investment Banking Services In a second case, Pennsylvania securities regulators issued a cease and desist order against the Association of Senior Counselors after an agent- who had been charged with selling unregistered securities in Connecticut- appeared at the home of a senior citizen with materials claiming he had "credentials you can trust."

Bank Investment Seniors should exercise caution when considering investments- but, of course, they should have been doing that long before attaining senior status. Always check with state securities regulators to be certain the sales person is registered in your state- and if he or she is not, report them immediately to those same regulators.

Alternative Investment At any age, the formula remains the same before you invest, investigate.

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