Published: 9/22/2022 2:28:33 PM
Modified: 9/22/2022 2:27:55 PM
The state has launched a new online portal bristling with information about how to approach investing, a move prompted not only by the growing complexity of the area but also by the makeup of New Hampshire.
“New Hampshire is really a wealth center – New England in general is a wealth center,” said Barry Glennon, Director of the Bureau of Securities Regulation. “Our median age is quite high in comparison to the rest of the country … and we have a sizable retirement population in the state. That’s where fraud occurs: go where the money is.”
The new portal at InvestSmart.nh.gov, announced Thursday, covers everything from spotting scams to online trading to questions that people should ask financial advisors.
“If you’re going to invest, you have to investigate first. Sometimes people hesitate to even ask questions … they may feel perhaps they’re insulting the advisor asking: how are you compensated,” said Glennon. “You should not be afraid to ask.”
The site includes information on how to research investments and advisors, including any disciplinary history.
Much of the information on InvestSmart isn’t new but has been gathered together for the first time or put into new formats. Glennon said Secretary of State Dave Scanlan, whose office includes securities regulation, pursued the project in line with one of the Bureau’s missions, to protect and educate investors.
“It is information that was not necessarily known to the general public in the past,” said Glennon.
Beyond the website, the Securities Bureau has a podcast, a free printed guide also available in Spanish, and can arrange for staff to speak at public events.
One area of investing that the site does not cover is cryptocurrency such as bitcoin. That will come, said Glennon, pointing to the Governor’s Commission on Cryptocurrency and Digital Assets, which is still gathering information. “This is a work in progress,” he said of the site.
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