Financial Literacy Month focuses on informed investing
CALGARY, Nov. 6, 2019 /CNW/ - November is Financial Literacy Month, a time when the Alberta Securities Commission (ASC) encourages Albertans to enhance their financial knowledge. As part of its mission to protect investors, the ASC has launched a campaign to encourage Albertans to become more financially literate.
"Building financial literacy is a critical step for Albertans to take in making informed and effective investment decisions," explains Alison Trollope, Director, Communications and Investor Education, Alberta Securities Commission. "Our goal is to empower Albertans to expand their financial knowledge and understand what investments are right for them. In doing so, Albertans can better manage their personal finances and protect themselves from unsuitable investments and scams."
The ABC campaign encourages Albertans to take several steps before handing over their hard-earned money, and advises investors to "Always be Checking.":
- Check that the individual or firm selling securities or offering investment advice is registered to do so.
- Check albertasecurities.com to determine if there is any disciplinary history for a company or individual offering you an investment.
- Check the news to see what's been said about the investment you're considering.
- And -- check that the investment opportunity is right for you. Conduct research and ask the right questions, taking into account factors like your stage of life and your risk tolerance. The reality is that people spend more time buying a new car or planning a vacation than investing their life savings1.
The ASC provides a number of free and easy-to-use resources to help assess and build financial literacy – from quizzes on investing basics to tools to help manage money. There are also informational videos, including a number by personal finance educator and author Kelley Keehn who explains elements of personal finance using content from the ASC's Investing 101 course. The resources are available at www.checkfirst.ca/ABC.
The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.
1 Investor Index 2017, Alberta Securities Commission.
SOURCE Alberta Securities Commission
For further information: For Media Inquiries: Hilary McMeekin, Manager, Communications, 403.592.8186; For Investor Inquiries: ASC Public Inquiries, Toll-Free 1.877.355.4488