Local financial advisor warns residents: Spot the red flags of investment scams

In light of the recent First Liberty Building and Loan Ponzi scheme scandal, The Citizen spoke with Wealth Management Certified Professional®, Teresa M. Fitzgerald, WMCP®, ownerof Affinity Planning Partners about how residents can protect themselves from investment fraud.

One of the biggest warning signs, Fitzgerald said, is a promised return on investments. “There is no such thing as a guaranteed rate of return on an investment unless it is an insured product like a CD, which is FDIC insured,” she explained. “If someone promises you 13% every year in an investment vehicle that is not insured, that should be an immediate red flag.”

Another safeguard is to make sure the person offering investments is properly licensed. Fitzgerald recommends checking any advisor’s credentials through FINRA BrokerCheckat brokercheck.finra.org, a national registry that shows licenses, disclosures, and professional history. “Anyone giving investment advice of any kind should be registered. If they aren’t, that’s a problem,” she said.

Transparency also matters. Licensed advisors are required to include disclaimers and disclosures on emails, websites, and even social media. “If you don’t see clear disclosures about what firm they are affiliated with or what licenses they hold, that’s a sign they may not be legitimate,” Fitzgerald said.

Fitzgerald also noted that professional advisors should act as fiduciaries—meaning they put a client’s best interests first. A qualified advisor will ask about goals, risk tolerance, and long-term plans rather than pushing a single strategy. “It’s not about guaranteeing results. It’s about helping you make informed choices and preparing you for how markets can rise or fall,” she added.

Advertising and endorsements can be misleading as well. Fitzgerald cautioned that glowing testimonials or high-profile promotions may sound reassuring but can actually be a warning sign. “Legitimate advisors face strict rules on testimonials, so if someone is leaning on endorsements only instead of transparency, that’s worth digging deeper,” she said.

Her advice for Fayette and Coweta residents: slow down, ask questions, and verify. “Check their brochure, check BrokerCheck, and make sure they’re licensed, transparent, and acting as fiduciaries,” Fitzgerald said. “If it sounds too good to be true, it probably is.”

Teresa M. Fitzgerald, WMCP®
Financial Planning Consultant
Wealth Management Advisor
Wealth Management Certified Professional®
Founder & Owner, Affinity Planning Partners

Advisory services offered through Capital Analysts or Lincoln Investment, Registered Investment Advisers. Securities offered through Lincoln Investment, Broker-Dealer, Member FINRA/SIPC www.lincolninvestment.com Affinity Planning Partners and the above firms are independent and non-affiliated. 259 Highway 74 N. Suite 2, Peachtree City, GA 30269