Novi Library To Host Free Financial Workshops

Unless you have a relative who's in the investment business, you might not think it’s possible to get free financial advice with no strings attached. But thanks to the , you can get just that.

The library will host a series this year to educate the public about personal finances.

The program is an objective, non-commercial educational program sponsored by the state of Michigan. 

Four workshops will be held on the following dates at the library:

• Jan. 19:Investing Fundamentals: It's as Easy as 1-2-3
• Feb. 7:Seven Simple Steps to Manage Your Investments
• March 15: Your Retirement: Boom or Bust?
• April 21: How To Invest in a Complex and Agenda-driven World

The first three workshops will be from 7-8:30 p.m., while the last one will be from 10:30 a.m.-12:30 p.m.

“Unfortunately it’s very sad that thousands of people every year are scammed out of their money because they don’t really know what questions they should be asking, they’re not educated as they ought to be about how to check out a broker or how to check out an investment before they give somebody their money and so forth," said Kelly Masters, marketing and outreach coordinator for the program.

Registering for the events is recommended so the presenters can bring enough materials, but walk-ins are also welcome.

The Investor Education in Your Community program is now going into its sixth year. Its funding comes from the Investor Education Trust in Washington, D.C., to which citizens convicted of money schemes have to pay sizable restitutions.

The money is given back to the states through their regulatory body, which in Michigan is the Office of Financial and Insurance Regulation. This state department monitors the banking and financial services industries, manages licensing requirements for individual brokers, and monitors security and insurance products for sale.  

“They are kind of the watchdog to protect Michigan consumers from potential scam, but they also have a function of educating the public about how to become more wise and savvy with regard to their finances,” said Masters.

About the workshops

Each workshop includes a formal presentation, usually given by lead presenter Mark B. Robinson, the senior vice president of investments with a major regional investment banking and brokerage firm.

Robinson is a Certified Investment Management Analyst and an Accredited Investment Fiduciary Analyst.

The program leaders are also available before and after the workshops to answer any personal questions. For the first workshop, the presenters will be there at least 15 minutes early if attendees wish to bring in copies of their financial statements with questions. 

Attendees are encouraged to come to all of the workshops because the knowledge builds on itself, but they can also pick and choose which ones to go to.

The entire series consists of seven workshops, and the library is hoping to provide the last three classes in the series this summer.

Masters said they are excited to bring the program back to Novi. The workshops were put on at the old library a few years ago.

“I know that Novi is the kind of city where people will appreciate this high-caliber education,” she said.

For more informationa about the Investor Education in Your Community program, visit its Facebook page.