Beware the Financial Phantoms: Don’t Let Bad Advice Haunt Your Wallet! ??

It's spooky season, and financial "tricks" are creeping around every corner! ?? But don’t fear—this special edition is here to help you uncover the “treats” of solid financial advice while dodging those tricky pitfalls.

Let’s dive in and see what’s worth keeping in your financial treat bag!

??? Trick: The “Too-Good-to-Be-True” Promise

If you’ve ever heard phrases like, “Double your money in just weeks”? Beware! Americans lost over $3.8 billion to scams in 2022, often due to misleading promises.

• Tip: A trustworthy advisor will discuss both the potential returns and the risks, helping you understand the full picture.

?? Treat: Transparent, Realistic Guidance

A true “treat” of good advice involves realistic guidance and full transparency.

Instead of hyping returns, credible advisors focus on long-term strategies. Diversified portfolios, for example, earn an average of 6-7% over time.

??? Trick: Vague or Hard-to-Understand Language

Vague, jargon-filled advice? Beware! 67% of investors feel vulnerable when financial jargon isn’t clear (FINRA).

• Tip: Good advisors should explain clearly, so feel free to seek a second opinion if unsure.

?? Treat: Expert-Backed Recommendations

Look for advice that is backed by trusted sources, experience, or professional credentials. Certified advisors are held to higher fiduciary standards, and research shows they can improve outcomes by up to 1.8% annually.

• Tip: For reliable advice, turn to established financial apps and tools, like SmartPurse , which offer expert-backed guidance!

Don’t Let Bad Advice Give You a Fright!

Halloween is a time for fun scares, but your finances shouldn’t be one of them! Stay vigilant, ask questions, and remember that good financial advice will always have your best interests at heart.

Want more advice you can trust? Our SmartPurse app offers expert-backed resources to help you make confident financial decisions!

Happy Halloween! ??

?? November Events Schedule

Join our FREE SheWealth masterclass with multi-award-winning expert Olga Miler and grab the the essentials to start investing today!

• Discover the simplest entry points and essential tools to start investing ?
• Build an effective and personalized investment strategy with a clear, five-step roadmap ?
• Understand and avoid common pitfalls

?? Tuesday 12th Nov, 18.30-19.45 BST I 19.30-20.45 CET

--> Register for free now!

Ready to dive into the world of blockchain and crypto? Join our VIP Masterclass with Jasmin M. , Senior Associate Financial Product Development at 21Shares.

Discover the real story behind Bitcoin & Co., plus learn how to invest in cryptocurrencies safely and confidently!

?? Monday 25th Nov, 19.30-20.30 BST I 20.30-21.30 CET

--> Sign-Up now!

*Free for our VIP members