Wisconsin Department of Financial Institutions
Press Release

Wisconsin DFI Issues Social Media and Online Trading Investing Advisory

 

By - Apr 29th, 2021 10:01 am

MADISON, Wis. – While ever-evolving technology makes investing more accessible to greater numbers of people, informed investors know that technological democratization also brings significant risk. The Wisconsin Department of Financial Institutions (DFI) today issued an investor advisory to help raise awareness of the impact social media can have on investing and things investors should consider when using online trading platforms.

“In our digitally connected world, some investors turn to online chatrooms and social media platforms for information about investing or specific investment opportunities rather than using the services of a registered investment adviser,” said DFI Secretary Kathy Blumenfeld. “An impulsive investment today can derail your long-term investing strategy, so it is important to keep your emotions in check. Take time to research any investment and consider talking to a licensed professional before buying or selling.”

The advisory cautions investors to not make investment decisions based solely on online chatrooms or social media campaigns, and it provides an overview of how investors can avoid making emotional decisions that can negatively impact their investing strategy. It also discusses social investing, day trading, margin accounts, and share price volatility. The full advisory is available on the agency’s website here.

As with all investments, before making any financial decisions, DFI encourages investors to do their homework, ask questions, and contact DFI’s Division of Securities at (608) 266-2139 or email DFISecurities@dfi.wisconsin.gov for more information.

NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.

Mentioned in This Press Release

Recent Press Releases by Wisconsin Department of Financial Institutions

2024 Governor’s Financial Literacy Award Nominations Open Today

Awards Recognize Individuals & Organizations for Excellence in Increasing Financial Literacy, Capability, and Inclusion Among Wisconsin Residents

Leave a Reply

You must be an Urban Milwaukee member to leave a comment. Membership, which includes a host of perks, including an ad-free website, tickets to marquee events like Summerfest, the Wisconsin State Fair and the Florentine Opera, a better photo browser and access to members-only, behind-the-scenes tours, starts at $9/month. Learn more.

Join now and cancel anytime.

If you are an existing member, sign-in to leave a comment.

Have questions? Need to report an error? Contact Us