$12.5 Billion Lost in 2024: Why It’s Time to Talk About Investment Scams

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In 2024, Americans lost a staggering $12.5 billion to scams—a record-breaking and sobering statistic. Even more alarming? A significant portion of these losses came from investment-related fraud, targeting individuals who thought they were making smart financial moves.

As a financial advisor, I believe it's more important than ever to have open, proactive conversations about the growing sophistication of investment scams—not only to protect your hard-earned assets, but also to empower you with knowledge.

Today’s Scams Are Smarter Than Ever

  • Scammers are no longer sending poorly written emails or making clunky cold calls. Instead, they’re:

  • Impersonating legitimate firms and advisors using deepfake technology and AI-generated voices.

  • Setting up fake investment websites that look strikingly real.

  • Using social media and online ads to promote “exclusive” investment opportunities.

  • Exploiting cryptocurrency confusion, promising sky-high returns with little to no risk.

The result? Even experienced investors are being deceived.

What You Need to Watch Out For

If it sounds too good to be true, it probably is. Be cautious of: Unsolicited investment offers, especially through email, text, or social media.

  • Promises of guaranteed or unusually high returns.

  • Pressure to “act fast” or send money via crypto or wire transfer.

  • Requests to keep the opportunity confidential.

How Financial Professionals Can Help

One of my roles as your financial advisor is not only to help grow your wealth—but to protect it. If something seems off or too good to be true, let’s talk about it. I’d much rather you check in with me first than risk becoming part of next year’s statistics.

Remember: You Are Your First Line of Defense

Staying informed is your best defense against fraud. And if you’re ever unsure about a financial opportunity, I’m just a phone call away.

Have questions or concerns? Reach out today. Let’s make sure your investments stay where they belong—safe, smart, and secure.

What the New Tax Bill Means for You

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The enactment of the Tax Cuts and Jobs Act represents “the most sweeping overhaul of the U.S. tax code in more than 30 years.”1

For millions of Americans and businesses it means an altered financial and investment landscape with new opportunities and challenges in the years ahead. Keep in mind, however, that the information in this material is not intended as tax advice, and may not be used for the purpose of avoiding any federal tax penalties.

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