FINRA said it has found that Baby Boomers lack confidence in their investing knowledge and are eager to better understand their investment options. Further, recent FINRA Investor Education Foundation-sponsored research showed that seniors are targeted more frequently by investment fraudsters than younger investors.
The advertising campaign, which includes television, radio, print and online advertisements, aims to make investors comfortable with seeking in-depth information about retirement savings strategies, how the markets work, and how to check out the professional backgrounds of brokers and securities firms.
“FINRA-sponsored research has consistently shown that the vast majority of investors acknowledge that they need to increase their investing knowledge and have a strong interest in education and information that’s unbiased,’ said FINRA CEO Mary Schapiro, in a press release. “Large majorities also report being anxious about losing money on their investments, saving for retirement and becoming victims of investment fraud – underscoring the growing need for thorough, accessible, user-friendly investor tools and educational resources.
At the organization’s Web site, www.finra.org, FINRA offers extensive information and multiple tools to help investors save, invest and manage their money. According to FINRA, one of the most popular is BrokerCheck, a tool that allows investors to search a database to learn a broker’s background – including licenses and registrations held, customer complaints and past disciplinary actions.
Other online tools include learning centers focusing on retirement accounts, 529 College Savings Plans, and bond investing, as well as calculators that assist with investing in various securities products.