Are you worried that someone you love is going to fall victim to some sort of fraud or scam? Well, Maine Office of Securities, AARP/Maine and the Maine Attorney General’s office are working together to start a program addressing one problem area.
The coalition is proposing a “Free Lunch Seminar Monitoring” training program. If you’re a person of a certain age, you know what they’re talking about: countless offers of a free lunch or dinner if you’ll sit through a financial planning or investment presentation. The problem is that seniors are increasingly the targets of these free seminars, some of which go on to use repeated phone calls and other strong-arm tactics to force seniors into risky investments.
It's OK to attend a free lunch, but make sure the only thing that gets cleaned out is your empty plate, not your investment account!
This press release from the Securities and Exchange Commission has some alarming statistics about these “free lunch” programs.
Want to learn how to be a Free Lunch Seminar Monitor? Volunteers will be trained to monitor the “free lunch” offerings at training sessions planned around the state, using a question sheet. Training sessions are free and open to all, but advance registration is required. Three sessions are planned, with the first session scheduled to take place at AARP’s Portland office on February 24, 2010.
More information about getting involved is available from the Office of Securities by calling 1-877-624-8551. AARP has additional details in articles about the national Free Lunch Seminar Monitoring program.