America's leader in securities arbitration recovery for burned investors educates public with 10 point program. Goal is to help Main Streeters avoid being abused by Wall Street.
(PRWEB) February 8, 2005 -- The Securities Fraud Hotline has existed for 16 consecutive years to help burned stock market investors nationwide successfully recover funds if, and only if, they have been burned" or ripped-off by their stockbrokerage firms and agents. By utilizing the best friend" of the burned investor (non-court, time efficient, cost effective arbitration), the Hotline has recovered literally millions for burned investors in claims against Wall Street. The securities arbitration and mediation systems work and the free Hotline gets calls from across America," reports founder and CEO Paul N. Young. The Hotline is available at 1-800-222-4724.
While our main mission is to recover money lost by Main Street due to Wall Street fraud and misconduct, education has always been a large part of our work," states Young. The Hotline has developed a 10 point program How to Select a Good Stockbroker – At a Glance" so that people can properly select a stockbroker and firm and never be caught in the anger-filled and often embarrassing position of being victimized by Wall Street.
For public distribution only with full attribution to the Securities Fraud Hotline (1-800-222-4724), media outlets are encouraged to distribute the simple, 10 point program:
How to Select a Good Stockbroker – At a Glance
1. Ask your friends and business associates for the names of brokers they use with success.
2. Interview prospective brokers and firms. Do not be tempted to go with the first broker you interview. Remember, the broker will be working for you and you will be paying the broker.
3. Check out the broker and the firm. How long has the firm been in business? What is the background of the broker? How about complaints against the firm and broker? Ask these questions and also get the official report on the broker and the firm at www.nasd.com - for free.
4. Interview the branch manager. Ask him the same questions you ask the broker. If the manager is too busy" to speak with you, go someplace else. If the manager is busy now, what would happen if you had a complaint later?
5. References are important. Ask the broker for the names of 12 current clients. Call them all. Ask a lot of questions. Good brokers will provide references.
6. Broker product knowledge is critical. Does the broker want to sell you one certain type of product or will the broker propose, in writing, a comprehensive strategy tailored to your specific needs, now and in the future?
7. Commissions count. You are entitled to know, before you invest in anything, the total fees and commissions you will be paying. Ask!
8. Contact your broker regularly. At least once every two weeks by phone, in-person once a month, if possible. Do a status" check on your account often, particularly when a major change in your life circumstances takes place.
9. Statements can be difficult to read. Go over your statement each month. If you do not understand it, call the broker. If you still dont understand it or you see something that appears out of line, call the branch manager.
10. Take responsibility for your money. Be involved in all phases of your investments. Keep informed. Make investment changes as the changing world and your life circumstances warrant.
© 1990, 2005 by Paul N. Young. Reprinted with permission of Securities Fraud Hotline (1-800-222-4724).
When a Main Street investor is cheated or abused by Wall Street, there is help through securities arbitration. The Securities Fraud Hotline is free and toll free at 1-800-222-4724.
Securities Fraud Hotline
(1-800-222-4724)
For Interview Requests: Caren Gellman
Telephone: (310) 551-0255
Write to: FraudFight@aol.com
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