IRC Students Talk Financial and Investing Basics with Local Groups

As part of the ongoing series of community service programs designed by the University of Miami School of Law Investor Rights Clinic (“IRC”), the Spring 2013 IRC student interns conducted various workshops and presentations in the South Florida community to promote financial literacy and to educate potentially vulnerable investors.

On April 19, 2013, IRC students Kyle Ohlenschlaeger, Brian Heit, and Jacqueline Smith spoke to senior citizens at the Meyerhoff Senior Center about basic investment concepts and ways to detect and avoid broker fraud targeted to senior investors. The IRC students warned the seniors about various investment fraud schemes, such as Pyramid and Ponzi schemes, boiler room scams, lottery scams, and “free lunch” scams. The IRC students described potential red flags to look out for, including performance guarantees, unrealistic historic returns, hard-to-understand investment strategies, missing documentation, and overly aggressive sales tactics.

IRC students Svitlana Vodyanyk, Eric Malloff, and Aaron Snellenbarger also conducted a presentation on basic investment strategies at a local senior center. Their presentation focused on the importance of vetting potential brokers using FINRA’s BrokerCheck tool, identifying personal investment objectives, and researching investment products.

Meanwhile, on May 23, 2013, IRC student Chris Ivory educated students at Miami Edison High School about finance basics. The students also participated in a game of jeopardy designed to demonstrate the importance of budgeting, saving, and investing.

For more information on IRC availability for an outreach program targeted to your organization or group, please contact the IRC at (305) 284-8234.