It's never too early to consider how you want your financial affairs to be managed if something happens to you. One solution is to grant a power of attorney (POA) for your investment account assets to your spouse, sibling, adult child or close friend—someone you trust to act wisely and in your best interest.
Maybe you’ve seen ads promoting “High CD Yields!” that offer rates significantly higher than other bank products. The promotion certainly grabs your attention, and that’s what the promoters want. If you inquire about the certificate of deposit (CD), you may find yourself listening to a sales pitch and ultimately owning a very costly, potentially risky investment—something much different than a CD.
This brochure, brought to you by FINRA and the Securities Industry Financial Markets Association (SIFMA), describes the critical steps you can take to safeguard your financial accounts and help prevent identity theft.
An increasing number of securities firms are marketing and offering securities-backed lines of credit, or SBLOCs, to investors. SBLOCs can be a key revenue source for securities firms, especially in times of solid market returns and growing investment portfolios, when investors may feel more comfortable leveraging their assets. Firms market SBLOCs as a type of financing and liquidity strategy that can unlock the value of your investment portfolio.
FINRA is publishing this Alert to warn investors not to send money or provide personal information associated with a widespread IRS impersonation scam timed to coincide with the October 15 deadline for anyone who filed a federal tax extension last April.