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WV Securities Commission concerned
that only 1% of investors understand
financial basics, Vows to maintain
investor education
(CHARLESTON) - West Virginia State Auditor and Commissioner of Securities Glen B. Gainer III
said that he was deeply concerned to learn that only one out of 100 investors knows or puts into
practice eight basic “investing secrets” and that just a bit more than a third (37 percent) get
half or more of the fundamentals right.
That is according to the findings of the new "MoneyTrack / Investor Protection Trust Investing
Secrets Survey” conducted by Opinion Research Corporation (ORC). The first-time-ever survey of more
than 1,000 U.S. investors was released in conjunction with the second season of the MoneyTrack public
television series that will begin airing on West Virginia PBS stations on Sunday, July 8, 2007.
MoneyTrack is designed to help investors understand several of the investing secrets that are
critical to success in personal finance. The nonprofit Investor Protection Trust (IPT), which works with
the West Virginia Securities Commission (a division of the WV State Auditor’s Office), is a major supporter
of the MoneyTrack public TV series.
West Virginia State Auditor Glen B. Gainer III said: "These survey results underscore in truly stark
terms the importance of investor education in West Virginia. We need to maintain our efforts to make
our children and young adults savvier investors who are ready to save and invest for their retirement
years."
Don Blandin, president and CEO, Investor Protection Trust, said: "Knowledge and action are crucial
components of being a savvy investor. Too often investors are uninformed and don't take necessary action
steps such as checking the background of the financial professionals to whom they entrust their money.
To be safe and wise investors, Americans must learn the essentials and use that knowledge to make good
investing decisions."
Of all those American adults surveyed by ORC, 63 percent identified themselves as investors.
To see the full "MoneyTrack/IPT Investing Secrets Survey", go to www.moneytrack.org on the Web.
Survey Methodology
The “MoneyTrack/IPT Investing Secrets Survey” was conducted by ORC among a national probability
sample of 2,086 adults (1,030 men and 1,056 women) 18 years of age and older, living in private households
in the continental United States. Interviewing for this CARAVAN® Survey was completed during the period
April 26-30, 2007. The survey was weighted by four variables: age, sex, geographic region and race to
ensure reliable and accurate representation of the total population. The margin of error at the 95 percent
confidence level is plus or minus 3 percentage points. Smaller sub-groups will have larger error margins.
About The West Virginia Securities Commission
In 1931, West Virginia legislators enacted Chapter 32 (Uniform Securities Act) of the West Virginia State
Code with the West Virginia State Auditor as Commissioner Ex-officio. This chapter of state code encompasses
the regulation and enforcement of “Blue Sky” or state securities laws. In addition to registration and
enforcement, the West Virginia Securities Commission engages in investor education and investment fraud
prevention programs throughout West Virginia. To find out more, please go to www.wvsao.gov/securities
About MoneyTrack and IPT
MoneyTrack® is a national public television series that teaches and inspires viewers on how to
invest wisely and avoid common financial scams. Each 30-minute episode features real people who overcome
real problems to become successful investors. Co-hosted by former KGO-TV and TechTV financial reporter
Pam Krueger and nationally-recognized on-air talent Jack Gallagher, MoneyTrack is an original public
television series produced by NETworth Television Productions in Tiburon, CA. MoneyTrack is made possible
by funding from the Investor Protection Trust with support from state securities regulators. KTEH Public
Television in San Jose is the presenting station of MoneyTrack. American Public Television in Boston is
the national distributor. To learn more about MoneyTrack, visit www.moneytrack.org.
Contact
Ailis Aaron Wolf, (703) 276-3265 or aaaron@hastingsgroup.com.
Editor's Note
A streaming audio replay of this news event is available on the Web at www.moneytrack.org.
For a copy of the “Mr. Earl” episode or other MoneyTrack episodes, please contact Variny Paladino at
(510) 243-1622 or variny.paladino@comcast.net.
Release Date: July 6, 2007
Contact Justin Southern via email at justin.southern@wvsao.gov
or by phone: 304.558.2251.
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