The Financial Services Authority (FSA) has launched a campaign to stop bad sales practices used by some stock broking firms using high-pressure techniques to sell high risk investment products, often to potentially vulnerable people for whom such products are not suitable.  The campaign aims to alert people to the risks posed by these techniques as investing in these products for which they do not understand the associated risks can be devastating not only financially but psychologically.

Has anyone ever tried to sell you shares over the phone? Remember:

Don’t

• be pressured into buying an investment, particularly if they contact you out of the blue
• be tempted by anyone promising you a deal that sounds too good to be true
• feel you have to agree because you’ve been put on the spot.  It’s not rude to say ‘NO’

Do

• Challenge the advice you are given.  (More tips and information on the website http://www.moneymadeclear.fsa.gov.uk/ or call 0300 500 5000
• your own research and make sure you fully understand the product.
• seek financial advice if you are unsure about investing your money.

Source The Financial Services Authority