Finra, as it’s known or the Financial Industry Regulatory Authority has a cool tool on their website at finra.org called a risk meter that you can use to see whether you share the characteristics and behavior traits that have been shown to make some investors vulnerable to investment fraud.
Here are some the questions it asks:
Do you live alone?
Have you ever checked with a securities regulator to see whether your investment professional was licensed before you did business with that person?
Have you ever checked to see if the investment you were interested in is registered with a federal or state securities regulator?
Have you bought or would you consider buying: stocks that sell for under $5 a share or private investments in start-up companies or new technologies?
Have you or would you consider an investment that a friend, family member or co-worker recommended?
Have you or would you consider hiring an investment professional recommended by a friend, family member or co-worker?
Are you signed up for the Do Not Call List?
Have you attended an investment seminar with a free meal?
Have you or a close family member recently suffered a setback, like illness or injury, or a limitation on your physical abilities?
There is a total of twelve questions to the Risk Meter assessment.
Are you at risk; and if so, how much?
To find out, follow this link and discover your own risk.
https://tools.finra.org/risk_meter/
