Have any of the following subject lines landed in your inbox lately?

• Annual Pension Review

• My Michigan Pension Education

• University of Michigan Annual Pension Review

• University of Michigan Retirement Evaluation

• Retirement And Pension Meetings for University of Michigan Employees

 Messages with these taglines are frequently appearing in U-M emails across campuses. 

Legit or Scam?

Reports of faculty and staff receiving financial adviser solicitations have become more common.

These emails may offer a meeting to assist with your retirement account(s). Some imply an affiliation with or endorsement from U-M.

Before considering an unsolicited offer, remember that U-M provides comprehensive retirement planning services only through TIAA and Fidelity Investments. These services are designed to help you manage your U-M retirement savings plans and engage in thoughtful long-term planning to reach your retirement goals.

Many financial advisers offer legitimate services; you aren’t limited to working only with Fidelity and TIAA regarding your U-M retirement investments. Do your homework, however, before entrusting an unfamiliar business with your funds. 

Protect Yourself

Ask for and carefully read the adviser’s “Form ADV,” which registered investment advisers (RIA) must complete to register and file with the Securities and Exchange Commission (SEC) and/or state securities regulators.

It is possible that you may not have been contacted by an RIA, but by an insurance agent or salesperson.

The Form ADV reports each RIA’s professional background, including business, ownership, clients, employees, business practices, affiliations, current registrations, employment history, and disclosures about certain disciplinary events involving the individual. You can view an adviser's most recent Form ADV online by visiting Investment Adviser Public Disclosure (IAPD), a U.S. Government site.

If an individual is offering to sell you investments, find out whether the person is registered with the Federal Industry Regulatory Authority (FINRA) or the SEC. Use FINRA BrokerCheck or call the FINRA Hotline at (800) 289-9999. If the person is registered, you can check employment or disciplinary history.

Get a Second Opinion

If you receive a suspicious email, or if an email doesn’t sound or feel right, your best move is to pause. Call the Shared Services Center at (734) 615-2000 between 8 a.m. and 5 p.m. or forward the email to [email protected] for a quick review. When it comes to your financial security, it’s better to be safe than sorry.