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ADVICE WITH NO SNAKE OILIf you want to learn more about investing and financial planning, there's no shortage of free seminars on everything from stock-picking to money management for women. But most are offered not by neutral investment experts but by brokerages and mutual-fund companies that would like you as a client. Most course sponsors don't hide who they are. And just because the instructor is a broker for the firm doesn't mean the information is bad. But you'll likely be exposed to a soft sales pitch. ''People need to go to these seminars understanding the agenda and having the willpower to say no,'' says Robert Veres, editor of Inside Information, a Kennesaw (Ga.) newsletter for financial planners. One source of more neutral advice is the National Association of Investors Corp. (248 583-6242), which organizes more than 1,200 sessions a year for a nominal fee of less than $25 per person. The curriculum focuses on the nuts and bolts of stock-picking, and the goal is to make you a do-it-yourself investor. Instructors are NAIC-trained members who often spend some time expounding on the merits of investment clubs. Likewise, the American Association of Individual Investors (800 428-2244) runs day-long seminars for $150, taught by finance professors who aren't fishing for clients. The AAII assumes participants have an intermediate knowledge of the markets and will eventually use a stockbroker or financial planner. Before taking any course--no matter who's behind it--ask about the instructor's background, investment philosophy, and expertise. Make sure the instructor has a recognized professional credential, such as certified financial planner or certified public accountant. Don't expect your specific needs to be addressed. Courses are taught to people of various ages, incomes, and financial goals. So don't waste your time in a class if what you want is one-on-one attention from a financial planner.
By Adele Malpass
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Updated Apr. 9, 1998 by bwwebmaster
Copyright 1998, by The McGraw-Hill Companies Inc. All rights reserved.
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