This was a headline from the BBC. Victims lose average of £45,000 in investment scams .
We think it’s important for investors to be more in control over their financial decisions. Yet being a DIY investor brings with it extra risk. How do you know when you are being scammed? Obviously, people don’t otherwise there would be no one falling for the scams. Technology is allowing the scammers more opportunities, not less. I’ve heard people say, if your clever, you won’t get scammed. Yet to have the confidence to be a DIY investor, you are clearly not stupid. Smart people can be easily scammed.
The point is whilst being a DIY investor is good, you need to know what you are doing. It will always pay to check. Yes, its why we use the term “Financial Bodyguard’
If you are investing £500 and can afford to lose £500, you can take the risk yourself. But if you invest £45,000, as in this example, can you afford to lose £45,000? If not, it pays to check it out.
One of the biggest problems that face DIY investors is making mistakes. Let us help you avoid them.