Montpelier, VT – In light of the ongoing developments related to the current Coronavirus (COVID-19) outbreak, and its impact on financial markets, the Department of Financial Regulation (DFR) is reminding investors in Vermont to have patience and use caution.
While every investor must be prepared to live with a certain amount of risk and uncertainty, financial upheavals can be emotionally distressing. Our recommendation is to maintain your long- term financial strategy.
“If you have concerns about your retirement accounts or investments, talk to your financial professional,” DFR Commissioner Michael Pieciak said. “Avoid making decisions based on panic or fear.”
Investors should also be on the lookout for scam artists trying to use the market downturn and the COVID-19 to scare investors into so-called “safer, guaranteed investments.”
Commissioner Pieciak said, “Always ask if the salesperson and the security are registered with the Department of Financial Regulation.”
Verify your financial professional is registered at https://dfr.vermont.gov/consumers/verify-license, FINRA Broker Check.
If you believe you have been a victim of a scam please contact DFR at 833-DFR-HOTLINE or firstname.lastname@example.org.
Connect with the Vermont Department of Financial Regulation on Twitter, Facebook, and on our website.