Investment Fraud 101: How to Protect Yourself From Fraudsters
Money Tree Investing
Money Tree Investing Podcast
4.6 • 658 Ratings
🗓️ 3 December 2021
⏱️ 83 minutes
🧾️ Download transcript
Summary
Are you a victim of investment fraud? You might be but don't know it yet.
We interview David Meyer, an attorney representing investment fraud victims. He discusses the top ways fraudsters take advantage of investors, top questions you should ask, and which professionals you need to be particularly careful of working with.
Dual Impact Funds is the sponsor of this episode. Click here for more details.
Today's Panelists:
- Kirk Chisholm | Innovative Wealth
- Barbara Friedberg | Barbara Friedberg Personal Finance
- Megan Gorman | The Wealth Intersection
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Visit the show notes at https://moneytreepodcast.com/investment-fraud-101-how-to-protect-yourself-from-fraudsters
Transcript
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| 0:00.0 | Welcome to the Money Tree Investing Podcast. Stock market, wealth, personal finance, value stocks, invest in your life. |
| 0:11.0 | Hello, Smart Money Tree podcast listeners. Welcome to this week's show. My name's Kirk Chisholm and I will be your host. So today we're talking with David Meyer. How's it going, David? |
| 0:21.1 | Great, Kirk. Great to be here. Thank you. Yeah, thanks for joining us. So David is an attorney, |
| 0:25.3 | and he specializes in fraud. And I really wanted to bring him on the show. It's not a topic that a lot of |
| 0:32.9 | people talk about, but we see this all the time with just with people who come to us looking for advice |
| 0:39.2 | and certain things. So I wanted to bring David on the show to really talk about how people |
| 0:43.5 | can protect themselves, what they should be looking for. And he's a great resource. So David, |
| 0:48.7 | tell the listeners a little bit about your background. So I'm an investment for our lawyer. So for the last 25 years, Kirk, I've been |
| 0:56.0 | representing individual investors, mostly retirees or folks I call near retirees who have worked |
| 1:02.9 | for decades to save for their retirement, either in, you know, a 401k, an IRA or a pension |
| 1:09.5 | rollover. |
| 1:14.5 | And then, you know, at the time of their retirement, they have a chunk of money. |
| 1:15.7 | They've saved their entire life. |
| 1:20.9 | And at that point, for most people, it's their first experience working with someone in the financial industry. |
| 1:21.6 | And they do whatever research they do, which unfortunately for most folks isn't a whole |
| 1:25.7 | lot because most folks don't know really what to do, you know, to investigate, you know, before they entrust their life |
| 1:33.1 | savings with an advisor. So they meet whoever they meet. They entrust their money with their broker |
| 1:38.3 | because they don't have the expertise and experience. They rely generally 100% on their financial advisor and the |
| 1:46.4 | advisor's firm to manage their money, to keep it safe, to grow it moderately. So they have |
| 1:53.1 | money for their entire life. And unfortunately, you know, bad things happen to good people. |
| 1:58.5 | And unfortunately, I've had plenty of work over the last 25 years and |
| 2:02.2 | the lawyers here. We've represented over a thousand individuals, again, mostly retirees, |
... |
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