Investment seminars
You've probably seen ads for investment seminars that claim:
'You can become a millionaire in three years'
'Traditional investments are too slow and lack excitement'
'Turn your financial dreams into reality'
'Amazing, fabulous, unbelievable strategies for building massive wealth' |
Seminars that make these claims should make you cautious. There's a range of potential dangers. These seminars may:
- be overpriced and poor value for money
- make misleading or deceptive claims
- push strategies that could be financially dangerous, or
- promote outright scams.
Many of these seminars make money from attendance fees, over-priced reports or books, and from selling property and investments from which the promoters rake off fees, commissions and other profits.
Some seminars try to get you to invest in offshore schemes where Australian laws cannot protect you and you will probably never see your money again.
It's usually safer and far better value to attend seminars run by reputable organisations and financial services businesses licensed in Australia.
FIDO's tips and alerts about seminars
Offshore investment seminars
Steer clear of overseas investment seminars. They promise ways to get rich quickly, often through fake 'bank trading programs'. ASIC and overseas regulators have warned repeatedly against this fraud.
FIDO's invited to an investment seminar
FIDO's received 'complimentary VIP tickets' to attend what the promoters describe as 'the country's #1 financial conference'. Motivated by the invitation, FIDO decided to examine this seminar's marketing claims more closely...
Investing in real estate
Investing in property is simply another form of investment. Although real estate agents may understand the property market, you should still seek the advice of a financial planner, because property investment might not be for you.
Action we've taken against seminars
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FIDO Website: Printed 07/31/2010
