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News | News Release Contact: Katha Treanor, (804) 371-9141
For Immediate Release: February 25, 2013
Listen SCC ADVISES VIRGINIANS OF THE IMPORTANCE OF INVESTMENT PLANNING

RICHMOND — In observance of America Saves Week 2013 (February 25 to March 2), the State Corporation Commission (SCC) encourages Virginians to start a conversation about their personal finances.

“The more families can talk about their finances, the better they will be in the long run,” said Ron Thomas, director of the SCC’s Division of Securities and Retail Franchising. “Information is a powerful tool when making financial decisions that fit your specific needs and avoiding investment fraud.”

To encourage people to talk about financial matters, the Securities Division makes available a series of “Conversation Starters,” developed by the North American Securities Administrators Association (NASAA) and available on NASAA’s website at www.nasaa.org External Link logo. These conversation starters, which consist of a series of open-ended questions, are designed to help families begin an ongoing dialogue about budgeting, saving, investing and avoiding fraud.

Thomas urges all investors to beware of potential traps by anyone targeting them for their hard-earned savings. “Before investing, contact your state securities regulator to verify that the investment and the person recommending it are properly registered,” Thomas said. The Securities Division can provide detailed information about an investment product, broker or adviser. Its website – www.scc.virginia.gov/srf/index.aspx – also offers numerous investor education materials.

Thomas offers the following tips before making any investment decision:

  • Investigate before you invest. Check out the registration and license of potential investments and salespeople.
  • If it sounds too good to be true, it probably is.
  • Take your time. Don’t give in to high-pressure sales tactics.
  • If you’ve been a victim of fraud, contact the Securities Division in Richmond at (804) 371-9051 or toll-free in Virginia at 1-800-552-7945 or by email at SRF_General@scc.virginia.gov.

Additional information is available on the NASAA website and at InvestWiselyVA.com.

America Saves Week is part of a national public awareness effort by the Consumer Federation of America to motivate individuals and families to save for their financial future. To learn more, visit www.americasavesweek.org External Link logo.

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