American investors, and older ones in particular, are being hurt by five legitimate investment practices that can be misleading, a coalition of consumer groups warns. They include:
Misleading titles that portray commissioned salespeople as impartial advisers.
Uninsured products sold on bank premises.
Oral and printed disclosures that don't give useful information.
Risky derivative investments hidden in mutual funds touted as "safe."
Account statements that don't clearly indicate performance, fees and commissions.
To get a free copy of "Bulletin for Older Investors," write to: North American Securities Administrators Association, One Massachusetts Ave. NW, Suite 310, Washington, D.C. 20001.