While the Financial Industry Regulatory Authority has spearheaded a number of investor educational programs, it has launched the first one aimed specifically at Boomers.
The advertising campaign is aimed at helping Baby Boomers better understand investing options and avoid fraudsters.
“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. “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.”
Television ads will run on HGTV, BusinessWeek TV, The History Channel, CNBC, Discovery and the Fox Business Network for seven weeks. Radio advertisements will air on “Moneytalk with Bob Brinker” on the ABC Radio Network and on local news and talk radio stations in Washington, West Palm Beach, Fla., and Phoenix. Print ads will appear in Fortune, Forbes, Kiplinger’s, Money, Smart Money, BusinessWeek and US News & World Report.
FINRA will also run online ads on many of these publications’ websites as well as Redbook.com, More.com, Goodhouskeeping.com, Parade.com and Gather.com.
In addition. FINRA has posted educational material and tools on its own website, including a database on brokers, where investors can check on a broker’s background, including their licenses and if there have been any customer complaints or disciplinary actions against them.