TALKING FINANCE with Justin Baiocchi of Baiocchi Griffin Private Wealth I saw it on Facebook If you spend any time on Facebook (and apparently just over 3 billion of us do exactly that every month), you will have spent much of that time scrolling past the numerous advertisements which now clog up every user's feed. Having joined Facebook way back in 2007, I'm old enough to remember when there were no advertisements on the platform - advertising is apparently the price we have to pay if we want to know what our friends are doing on holiday or had for dinner. What I find interesting about Facebook's advertisements, is just how terrible (and unbelievable) are the vast majority of products or services advertised on the platform. It's as though Facebook advertisements are the modern-day version of daytime television advertising - the ones they show around mid-morning, predominately offering life or pet insurance, funeral plans or some type of kitchen implement that promises to radically transform your life. I'll readily admit that on occasion I have unfortunately succumbed to Facebook's advertising promises, and ended up making a purchase that invariably resulted in disappointment. I'd rather forget the money I wasted on a supposedly super powerful flashlight and put it down as a valuable learning lesson. Unfortunately, when it comes to investing, it's also very easy to be fooled by slick marketing and some snazzy graphics or a professionally produced video. From the product manufacturer's perspective, you choosing to invest in their product is a successful sale, so they are motivated to employ the same sales tactics used by companies selling spa baths, online workout subscriptions or mushroom coffee. Financial services law fortunately imposes some limitations (no outright lies, for example), but those laws only apply to companies that operate on a legal basis - people who run the many scams, cons, frauds and deceptions I don't care about legal restrictions as they're already operating illegally. Investors face the challenge of firstly avoiding the many scams, and then ensuring that any actual legitimate investment is appropriate. As the saying goes, does it do what it says on the tin? Is it true to label? Are you getting the investment exposure you expect? And most importantly, is it the right investment for you? For example, if you are a retiree with a requirement for a steady income, does it seem like Bitcoin would be a good investment? Or does a technology company with no actual product, just an interesting sounding plan to use Al for something something something, seem like a good investment? Unlike the many products advertised on Facebook, investment selection really is no joke. BAIOCCHI GRIFFIN PRIVATE WEALTH Level 1, 462-464 Peel St, Tamworth NSW 2340 6766 9000 AFSL No 424658 This article is general in nature and does not take your individual situation into account. You are advised not to act on anything contained herein, or discussed as a consequence of the contents of this document, without receiving financial advice from a suitably qualified person such as a financial planner, lawyer or accountant. Follow us on Twitter @BaiocchiGriffin Find us on f Facebook facebook.com/BaiocchiGriffin Private Wealth www.bgprivatewealth.com.au AW7447698 TALKING FINANCE with Justin Baiocchi of Baiocchi Griffin Private Wealth I saw it on Facebook If you spend any time on Facebook ( and apparently just over 3 billion of us do exactly that every month ) , you will have spent much of that time scrolling past the numerous advertisements which now clog up every user's feed . Having joined Facebook way back in 2007 , I'm old enough to remember when there were no advertisements on the platform - advertising is apparently the price we have to pay if we want to know what our friends are doing on holiday or had for dinner . What I find interesting about Facebook's advertisements , is just how terrible ( and unbelievable ) are the vast majority of products or services advertised on the platform . It's as though Facebook advertisements are the modern - day version of daytime television advertising - the ones they show around mid - morning , predominately offering life or pet insurance , funeral plans or some type of kitchen implement that promises to radically transform your life . I'll readily admit that on occasion I have unfortunately succumbed to Facebook's advertising promises , and ended up making a purchase that invariably resulted in disappointment . I'd rather forget the money I wasted on a supposedly super powerful flashlight and put it down as a valuable learning lesson . Unfortunately , when it comes to investing , it's also very easy to be fooled by slick marketing and some snazzy graphics or a professionally produced video . From the product manufacturer's perspective , you choosing to invest in their product is a successful sale , so they are motivated to employ the same sales tactics used by companies selling spa baths , online workout subscriptions or mushroom coffee . Financial services law fortunately imposes some limitations ( no outright lies , for example ) , but those laws only apply to companies that operate on a legal basis - people who run the many scams , cons , frauds and deceptions I don't care about legal restrictions as they're already operating illegally . Investors face the challenge of firstly avoiding the many scams , and then ensuring that any actual legitimate investment is appropriate . As the saying goes , does it do what it says on the tin ? Is it true to label ? Are you getting the investment exposure you expect ? And most importantly , is it the right investment for you ? For example , if you are a retiree with a requirement for a steady income , does it seem like Bitcoin would be a good investment ? Or does a technology company with no actual product , just an interesting sounding plan to use Al for something something something , seem like a good investment ? Unlike the many products advertised on Facebook , investment selection really is no joke . BAIOCCHI GRIFFIN PRIVATE WEALTH Level 1 , 462-464 Peel St , Tamworth NSW 2340 6766 9000 AFSL No 424658 This article is general in nature and does not take your individual situation into account . You are advised not to act on anything contained herein , or discussed as a consequence of the contents of this document , without receiving financial advice from a suitably qualified person such as a financial planner , lawyer or accountant . Follow us on Twitter @BaiocchiGriffin Find us on f Facebook facebook.com/BaiocchiGriffin Private Wealth www.bgprivatewealth.com.au AW7447698