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Page 12. Whb1y Free Preou, Wednesday, Januury 27. 1993 business news Beware of promises of quick profits With the changing economy, promoters are coming up with new ways te separate you from your hard-earned savings. Look out! A lot of people -- some already hurting from the recession -- have lest their money in investmenta that were promoted as a "sure thing." Many of these deals involved questionable business practices. "Consumera must underatand that they're increasing their chances of iosing everything when they seek returns higher than those offered by investments guaranteed by deposit insurance," says Brian Casa, assistant deputy niiniater of the Ontario Ministry ofFinancial Institutions. "Over the pant few years, we've investigated a number cf failures of mortgage brokers, rean estate tex shelters and syndications where investors lost their retirement savinga," Casa adds. Those offring- higher risk investments appeal to, a desire for quick profits, an well as other weakneasea. One technique is te, make you feel you're being admitted te a group of insiders with confidential information. To keep you from consuiting with othera, it may even be suggested the investment is lightly iliegal. The promoters' conservative business suite, expensive offices and glossy brochures may al ho intended te make you feel their investinent is net high risk. Consumera particularly vuiner- able te these approaches include PERSONAL MONEY MANAGEMENT STRAThGIES FOR THE '90s BY BRIAN COSTELLO Brian Costello, author of the bestselling "Your Money and How To Keep IV", is Canada's best-known tax and financial consultant. I writes a nationally syndicated column in major Canadian newspapers. I-is radio show "Taking Care of Your Money", is heard on more than.100 stations across Canada. February l7th, 1993 7:3Opm LeGala, Whitby Date: Time: Place: To Reserve Your Place Today CALL ANN BAMFORD 666-0896 IpOMPI INII-*NIý()I- IPA 1 NIkl: TThe World is Changing Overnight You Must Change with it! Anthony Robbins IL mi v e' m i World Premiere of a New Seminar "PARAOIGM AD VANTAGE" j February 18, 1993U 8:30 a.m.- 5:30 pr. Toron[o's Harbour Castie Convention Center Sponsored by: CFRB AM 1010 U3 PixeIbouard Ask for Detilsm LmtdSeating Avaïlable ~' CALL NOW (416)668-0800 seniors living on investmnent income, couples trying te put together a down payment for a house, ?arents saving for their children s education and people new te a particular area. "Every investment camres a risk. You have te decide what level of risk is acceptable te you," notes Casa who gives potential investers the folowipg tips: e Be wary of schenles that guarantee a quick profit. Generaliy, the higher the potentiai rate of return, the higher the risk you'1l lose everything. e Don't be talked into making a hasty decision. Reject high- pressure sales pitches. Consider your investment choice carefully. Cet impartial advice from your accounitant or lawyer. *Before signing anything, show ail the documents te your own lawyer, not the lawyer of the outfit offering the investment. If the promoter won't let you take the contract te your lawyer, don't sign. If your- own lawyer suggeated the investmnent to you, get the opinion of another lawyer who ia not involved in any way with the investment. eBe sure you understand the nature and extent of the risks aasociated with a particular investment. Don't invest more money than you can afford te lose. DiversifS': don't put more than 10 per cent of your savings into one investment. 0 Carefully assess the honesty of the peopie involved in the investment. Asic for references and check there. - 9 Check the quality of the information you're given about an investment. Demand- that the promoter provide ail the material you need te make an informed decision. 0 Make sure the investment complies with the applicable laws of the Ministry of Financial Institutions and the Ontario ministry's mandate 18 te protect investers. If a promoter suggests a deal han been structured te avoîd the scrutiny of regulaters, ask :h member, even a good track record is no guarantee of future success in investinents. Don't fail prey te aggressive telephone sales pitches. Frequently investments offered in this way are mnade te sound like once-in-a-lifetime opportunities but are actuaily of little value. ' The Investor's Checilist,' a brochure of questions te heip you assess the risks of an investment, is availabie free from Communi- cations Branch, Ministry of Financial Insttutions, 10 Wellesley St. E., third floor, Toronte, Ont. M7A 2H8; telephone the ministry's con- sumer information centre teif firee . i-800-268-114i. Law firm to. hold open house Sims Mazar & Brady, one of Durham Region's largeat, full-service law firns,, wili hold an open house on Jan. 28. The open house celebrates the oenng fte firm's additional offie ocated at the corner of King and Coiborne streets, next door te the main building at 117 King St. in Whitby: The two buili-ngs, that are renovated older homes, share a common parking lot that accom- modates firm membera and clients. The firm las comprised of seven lawyers and their staff. Created by merger of the fira Siais Brady with Mazar & Associates in December 1991, Sims Mazar & Brady draws from more than 20 e ars of practice in Durham t o David Sims is certified by the Law Society of U 1per Canada an a specialist in civil itigation and la well-known as an active member of the Whitby community. Says Sime "Research indicates that. what cients seek most in their iawyer, as well as excellent legal sIcilîs, la the abiiity te communicate well with themn. "At Sime Mazar & Brady clients' needa corne first and1 keeping people informed in a straïightfor-ward fashion is one of PARLJETZED SIORAGE Eý PROPAC CONTAINE SERVIRC o LCTRONICS HANDUING SPECIAUSTS ~ Moving Systems Bus: Oshawa (416) 728-1603 CORPORATION OF THE TOWN 0F WHITBY 1993 INTERIM TAX NOTICE The first instaiment of taxes for 1993 is due and payable February 1 5, 1993. Taxes may be paid at any Whitby bank without collection chrgs or a! the Municipal Office, 575 Rossland Road East~ Whï%hy OS. In addition, taxes may be paid by telephono through T Bankline or Canada Trust Easytine. If you have not received a tax bill and you are responsible for payment, please contact the Tax Departmnent at 668-5803 to obtain the nocessazy information. If :aymet ant received by the due date, penalty wlllbe added on the tirsayof default and the irs! day of each calSxnmnlh soklong as non-payment continues. a! the rate of 1-1/4% per month, or part thereof. LYNN PUCE SUPERVISOR OF REVENUE the keys te the succesa we erxjoy." Sims Mazar & Brady isaa progressive and innovative firm devoted te providing excellent legal services. Says nianaging partner Richard Mazar: "We have a highly qualified staff and we provide themn with the best in computer technology te do theïr jobs. That, combined with awyers who are committed to excellence and service is our winning formula." Mazar han been advising business clients in the area from his former Oshawa location for more than a decade. While the emphasis ie on sering the mall- te mid-sized businesas community, the lawyers at Sima Mazar & Brady offer clients a range of services in the areas Of litigation, corporatekcommercial, trade- marks, faniily law, residential rea estate, wills, estates and administrative iaw. John Brady started his legal career in a Bay St., Toronto law firmn before bringing his legal talents to Whitby in 1974. At that time, Brady wan one of a very few lawyers pat igcommercial law in rctsn tis area and h. quickly established a flourishing practice. He now acte as counsel tethe firm. Caterina Gucciardi and Paul Murray practise commercial and civil litigation, while Jennifer Thomson practises corporate and commercial iaw, as well as residential real estate and commercial rai. estate. Rounding eut the firm is Donna Babbs whose jractice is concentrated on Visitors te the o n house will include local politiciens and representatives o f the Whitby and Oshawa chanibers of commerce, as well as the firm'a clients. I t i., 5 K 'LIti g>i'~.rî'îx1 ~ . - ... -- m .......... ..... 60 DAYS NO CHARGE - AFFORDABLE MONTHLY PAYM ENTS m