May 24, 2012
Investor Alert: Nutraceutical Stock Scams—Don’t Supplement Your Portfolio With These Companies
Want to lose weight, get an energy boost, live longer or fight the common cold? Many of the products that claim to achieve these objectives are called "nutraceuticals"—a term used to describe dietary supplements and food and drink products that contain additives purporting to provide health benefits. The financial reality, however, is that some of the companies associated with these products are likely to make your portfolio very unhealthy.
FINRA is issuing this alert to warn investors about potential scams related to everything from fortified foods and energy drinks to "natural" medicines. While some of the companies producing these products are legitimate, others could be bogus operations with the potential to harm unsuspecting investors.
Check Out Your Investment Professional: FINRA Enhances BrokerCheck
FINRA has enhanced BrokerCheck®—a free tool that lets you research the professional background of firms and investment professionals. Now, in addition to being able to look up FINRA-registered firms and brokers, you can also check out the backgrounds of investment adviser firms and representatives.
Also, you can now search for financial services professionals based on their office locations or ZIP codes. And FINRA has expanded the educational content in BrokerCheck, including new help icons that clarify common terms used throughout the system and in the reports.