Investment Choices

Investing money each month is a great way to build a nest egg-but not all monthly investment programs are created equal. For a specific type of systematic investment plan-sometimes referred to as a "contractual plan" or "periodic payment plan"-an investor must make a long-term commitment of 10 or 15 years. While the majority of these plans are sold to military personnel, they are also sold to civilians. NASD is issuing this Alert to inform investors, especially those serving in our armed forces, of the costs and risks involved in such plans, including a high upfront creation and sales charge, little flexibility and limited investment choice. Read the Alert.

NASD is issuing this Alert to inform investors, especially those serving in our armed forces, of the costs and risks involved in such plans, including a high upfront creation and sales charge, little flexibility and limited investment choice.

Read the Alert.

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One basic rule of investing is that there's a direct connection between risk and return, sometimes described as reward. Making investments of varying levels - and types - of risk can help ensure that your portfolio provides both stability and growth.

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News Dispatch

NASD Orders First Command to Pay $12 Million for Misleading Statements in Sales of Systematic Investment Plans to Military Personnel

NASD announced that it has censured and fined First Command Financial Planning Inc., a Fort Worth, TX broker-dealer, $12 million for making misleading statements and omitting important information when selling periodic payment plans with up-front sales charges of up to 50 percent.

From that $12 million, First Command is ordered to pay restitution to thousands of customers who purchased a Systematic Investment Plan between Jan.1, 1999 and the present who terminated the plan and paid an effective sales charge greater than 5 percent. All money remaining will be payable to the NASD Investor Education Foundation, to be used for the investor education needs of members of the military and their families.

Read the News Release

Tools You Can Use

Understanding Investment Professional Designations

Investors can sometimes become confused by the many designations used by investment professionals. Use our guide to assist in evaluating the professional designations an investment professional may hold.

Past Issues of Investor News Available

In response to numerous requests, previous issues of Investor News are now available on our Web site.

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