Yet another Better Business Bureau has posted an alert for consumers who are invited to attend free financial seminars in exchange for a free lunch. According to Michael Clayton, president and CEO of the Better Business Bureau in Southeast Texas, "Free lunch seminars can seem like an easy way to get a meal, but attendees run the risk of getting drawn in by the slick presentations and promises of big returns."
BBB recommends watching for the following "red flags" if you plan to attend a free financial seminar:
- Beware of the requirement of large up-front investments.
- Beware of promises of high returns for very low risk.
- Beware of high pressure sales tactics.
- Beware of reliance on off-shore investments.
The bottom line - if it sounds too good to be true then it probably is, and always trust your instincts.
Advice from the BBB on financial planning and investing can be found at Finance and Credit Tips.
- BBB warns of emerging scams
- How to Avoid Estate Planning Scams
- Tips on Avoiding Living Trust Mill Scams
- California Living Trust Mills Fined Over $6 Million by Ohio Supreme Court
- California Man Sentenced to 90+ Years for Estate Planning and Ponzi Scam
- Financial Elder Abuse - Exploitation Through Estate Planning
- Financial Elder Abuse Goes to Hollywood
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