Advisers offer financial tips to sailors in Mediterranean
October 23, 2007
NAPLES, Italy — Financial advisers met Monday with servicemembers in Naples to help them plan for their future and avoid common mistakes with their money.
The seminar included information on credit ratings, predatory loan tactics, mortgages, savings and investments.
The Naples session was the first time one was held there. The advisers will be in Sigonella on Wednesday and Rota, Spain, on Friday.
“What we like about presenting this information to the military is that we can catch people while they’re still relatively young, when they still have time to think about and plan for their future,” said Francis H. Dong, associate director of the nongovernmental Financial Industry Regulatory Authority.
FINRA is responsible for governing business between brokers, dealers and the investing public. Its educational branch, the Investor Education Foundation, conducts free educational sessions for the public.
The Naples session, held at the base theater at Capodichino, was attended by about 75 individuals, and lasted about four hours. Attendees received a folder with material geared toward achieving financial stability and avoiding pitfalls and listened to advice from speakers.
The foundation was launched in 2006 at a cost of $85 million. According to Dong, money for the project was generated from fines levied by FINRA on the financial industry.
Because of this funding, the program is free for military attendees, and to the installations that host them.
Since its inception, the forum has been presented to almost 7,000 servicemembers all over the world.
For more information on the Sigonella and Rota presentations, contact the Fleet and Family Support Group. Go to the IEF Web site at SaveAndInvest.org for more information and financial advice.