World Investor Week – Isle of Man
World Investor Week (WIW) is a global campaign running from 1 - 7 October 2018. Its aim is to raise consumer awareness about the importance of investor education and protection. IOSCO, the International Organisation of Securities Commissions is behind WIW and the FSA, as a member of IOSCO, is taking the initiative forward on the Island.
How to become a Smart Investor?
As part of World Investor Week 2018 consumers are being asked to consider “What is a smart investor and how do I become one?”. The Isle of Man Financial Services Authority (FSA) is working with local professional bodies to help consumers find the answers they need to become a Smart Investor.
A Smart Investor
- Checks that an investment adviser is qualified and works for a regulated firm
- Conducts research on a product before investing
- Assesses the impact of fees when choosing an investment
- Understands that risk exists in all investments
- Avoids "get rich quick" and "can't lose" schemes
- Recognises the power of compound interest
- Recognises the importance of diversification
- Plans for and invests according to his/her future needs and goals
- Recognises the benefit of long-term, regular and diversified investment.
Additionally a Smart Investor investing in initial coin offerings, digital assets and other online investments:
- Understands the risks that are associated with initial coin offerings and crypto-assets in general and is careful in deciding whether to invest in these products
- Does not forget about the importance of due diligence when considering investments in online and digital environments
- Recognises the red flag warning signs of online investment fraud
- Never invests based solely on a celebrity endorsement
- Knows that most legitimate firms do not allow their customers to use credit cards to make investments.
Launch of Isle of Man World Investor Week Saturday 29 September
The launch event has been developed in conjunction with the Personal Finance Society.
Family Finance Day
Isle of Man World Investor Week is being launched at Ballakermeen High School Sixth Form Centre, St Catherine’s Drive, Douglas on 29 September 2018. Doors open at 9:15 and the event is scheduled to finish at 13:00. Places for each session are limited and booking is recommended here. To keep up-to-date with the event, please follow the World Investor Week Facebook page.
Free presentations looking at:
- Initial Coin Offerings: What’s all the fuss?
- Investment Matters – Top tips for a Smart Investor
- Scam Man – How to be scam aware
- Pension Matters – Planning for your future
Pro Bono Guidance
To support the event a number of financial advisers from Isle of Man regulated firms have agreed to provide free half hour sessions where consumers can get generic guidance on their financial plans. All participating advisers are members of the Personal Finance Society. There are more than fifty slots available across the morning.
Discover Fortunes
Teenagers (13-18 year olds) can compete in teams of up to 6 in the Discover Fortunes Challenge. In this interactive game the teams that find the fortune, win the prizes.
All morning – Meet the Regulator over refreshments