How do I avoid financial scams?

If you receive any unsolicited communication from a financial institution, do not respond or otherwise communicate through the channel used for outreach, and initiate a request to a known support channel for that institution prior to providing any personal details. Motley Fool Wealth Management can be reached by phone at 844-408-4390 or by email at support@foolwealth.com. 

Remember, we will only contact you through official firm channels: through an @foolwealth.com email extension and phone calls from one of our Client Experience team members or Wealth Advisors.

We strive to do everything we can to protect our clients from financial scams and safeguard your information. In addition, we encourage you to proactively take steps to ensure your online safety. Here are some important tips:

1. Be wary of unsolicited messages from unknown phone numbers, purported contacts you don’t recognize, or whose communication style has suddenly changed.
2. Avoid links to unknown or suspicious websites, and do not download or open files unless you’ve received through secure means from a trusted contact you’ve verified.
3. Seek to provide as little personal information as possible on social media, and do not share personal information with unknown or suspicious individuals, contacts, and groups.
4. Be on the lookout for misspelled words and odd text formatting.
5. Consider the validity of presented offers. If something sounds too good to be true, it probably is. For example, we will never guarantee investment results or outcomes.

For additional safety information, the National Security Alliance offers online safety resources and Money.com offers information on how to spot and avoid WhatsApp scams. FINRA has also posted an Investor Alert on Social Media ‘Investment Group’ Imposter Scams on the Rise.

Find even more tips to protect yourself online on our Insights blog: Worried about Your Financial Accounts? How to Increase Cybersecurity at Home.