An Attorney's Advice... At NO Charge

Read this and make a copy for your files in case you need to refer to it someday. Maybe we should all take some of his advice! A corporate Attorney sent the following out to the employees in his company.

1. Do not sign the back of your credit cards. Instead, put "PHOTO ID REQUIRED..."

2. When you are writing checks to pay on your credit card Accounts, DO NOT put the complete account number on the "For" line. Instead, just put the last four numbers. The credit card company knows the rest of the number, and anyone who might be handling your check as it passes through all the check processing channels won't have access to it.

3. Put your work phone # on your checks instead of your home Phone. If you have a PO Box use that instead of your home address. If you do not have a PO Box, use your work address. Never have your SS# printed on your checks. You can add it if it is necessary, but if you have it printed, anyone can get it.

4. Place the contents of your wallet on a photocopy machine. Do both sides of each license, credit card, etc. You will know what you had in your wallet and all of the account numbers and phone numbers to Call and cancel. Keep the photocopy in a safe place. I also carry a Photocopy of my passport when I travel either here or abroad. We've all heard horror stories about fraud that's committed on us in stealing a Name, address, Social Security number, credit cards.

If you have had the unfortunate luck of having your information stolen, you know that you need to cancel your credit cards immediately. But the key is having the toll free numbers and your card Numbers handy so you know whom to call. Keep those where you can find them.

6. File a police report immediately in the jurisdiction where your credit cards, etc., were stolen. This proves to credit Providers you were diligent, and this is a first step toward an Investigation (if there ever is one).

But here's what is perhaps most important of all: (I never even thought to do this.)

7. Call the 3 national credit reporting organizations Immediately to place a fraud alert on your name and also call the Social Security fraud line number. I had never heard of doing that until advised by a bank that called to tell me an application for credit was made over The Internet in my name. The alert means any company that checks your Credit knows your information was stolen, and they have to contact you by Phone to authorize new credit.

1.) Equifax: 800-525-6285
2.) Experian (formerly TRW): 888-397-3742
3.) Trans Union : 800-6807289
4.) Social Security Administration (fraud line):800-269

Avoid Being Scammed by your Advisor!

Ponzi schemes, front running, self-dealing, churning and outright fraud are just a few of the multitude of ways you can be cheated by your financial advisor. Protect yourself by following these eight practical guidelines.



1. Understand your Advisory Agreement
Be sure your Advisory Agreement describes the services you want, and that your advisor bears fiduciary responsibility to provide them. Don't have an Advisory Agreement? Demand one from your advisor!

2. Insist on a Personalized Investment Policy Statement
A personalized Investment Policy Statement assures that your expectations and the expectations of your manager are in snyc regarding the management of your account.

3. Specify Asset-Based Fees
Your management fee should increase only if the value of your account increases, and should decline if your account declines.

4. Require an Independent Custodian & Accountant
Your advisor should have management discretion, but not custody of your assets or control of your statement preparation.

5. Monitor Manager & Subadvisor Audits
Independently prepared financial statements and regulatory reviews should verify the advisor's and all managers' financial health and regulatory compliance.

6. Have (and use!) 24/7 Online Account Access
"Trust, but verify" that all activities in your account reflect your objectives and Investment Policy Statement.

7. Meet Regularly with Your Advisor
The better you know each other, the better your needs, goals, and expectations will be met.

8. If it sounds too good ...
Stop and think. It's highly likely that the advisor who makes rash promises or claims a record of unusually high or consistent returns will soon have Madoff with your money!