| FOR IMMEDIATE RELEASE APRIL 27, 1999 |
Contact: Bill
Teets at (614) 644-7187 |
OHIO DEPARTMENT OF COMMERCE PUBLICATION
PROVIDES ADVICE FOR WORKING WITH AN INVESTMENT ADVISER
Gary C. Suhadolnik, director of the Ohio Department of Commerce, announced today the availability of a free investor education publication entitled "Who's Who in the Financial Planner and Investment Adviser Field." Published by the department's Division of Securities, the 16-page booklet describes how a consumer should do their homework when choosing a planner or adviser. It also discusses the legal requirements of being an investment adviser in Ohio, and summarizes the major investment adviser and financial planner designations.
This announcement is in conjunction with Governor Bob Taft's proclamation of April 25-May 1 as Saving And Investing Education Week. This week, which is being recognized in more than 20 countries, is designed to encourage consumers to save, invest wisely, and protect themselves against fraudulent schemes.
"Deciding how to invest our money is one of the most important decisions we face," said Director Suhadolnik. "Financial professionals can provide valuable assistance, and it is my hope that our 'Who's Who' publication will be helpful to consumers as they consider the services of an adviser or planner."
Commissioner of Securities Thomas E. Geyer also noted that the release of the "Who's Who" publication coincides with the implementation of new Ohio laws for the oversight of persons engaged in the business of providing investment advice. The new laws, which are administered and enforced by the Division of Securities, provide important consumer protections by subjecting investment advisers to certain licensing, competency, conduct and anti-fraud standards. "As more and more Ohioans turn to financial professionals for assistance in meeting financial goals, an effective oversight system is essential," said Commissioner Geyer.
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During Saving And Investing Education Week and throughout the year, Ohioans can request the "Who's Who in the Financial Planner and Investment Adviser Field" and the other free investor education publications available from the Division of Securities by calling 1-800-788-1194. The "Who's Who" publication and other investor education publications can also be accessed on the Division's web site at www.securities.state.oh.us
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