Making an investment plan can be complex, and scammers are preying on people who feel overwhelmed when making financial decisions. We want to teach you how to spot a fake financial advisor, so you don’t become a victim. Because most of these scams are AI-poweredand known to be very convincing, we suggest you think like a reporter. Verify information using two sources if not three. 

Most people fall victim to financial scams online. It’s perfectly fine to conduct research on the internet, but before selecting a financial advisor or investment firm to work with, make sure they exist. The FINRA website has a Broker Check tool and certifications can be confirmed via the CFP database. Always assume investment opportunities you happen upon while scrolling on social media are fake because scams involving fake financial influencers are common. 

AI can now fake voices as well as images and videos, so be cautious with phone calls and video chats. If someone calls claiming to be your advisor, hang up and call back using the number they originally provided to confirm the request is legitimate. Verify any unexpected requests to connect on Zoom or FaceTime before joining as live video chats can be faked too. 

If you receive an unexpected call from someone wanting to Facetime, remember that AI deepfake video chats don’t always come from an unknown number. It may appear to be a call from someone you know. If you accept it, pay attention to how the voice sounds and how the person’s mouth moves. AI voices don’t often sync with video which causes speech to appear to be delayed. The body language of an AI deepfake would be unnatural. 

Remember, even digitally savvy individuals can fall victim to scammers. Protect your identity and bottom line by verifying information before making financial decisions. Questions? Contact Alloy Wealth at 800-689-3935.