Author: Allen.Williams@lplfinancial.com

You’ve worked hard to save and invest for the future, but have you taken steps to protect your wealth from scams and fraud?

Individuals in the United States reported losing more than $12.5 billion to consumer fraud in 2024, according to the Federal Trade Commission.¹ Bankrate notes that 40% of U.S. adults reported falling victim to financial or identity scams in the last 12 months, with 73% experiencing fraud in their lifetime.² And, technological advances, such as artificial intelligence and deepfake capabilities, are making it easier than ever for scammers to take advantage of unsuspecting victims.

Fortunately, there are steps you can take to protect yourself and your loved ones from scams and financial fraud.

Know What Red Flags to Look For
There are several key warning signs that could signal a potential financial scam.

• Unsolicited emails, texts, phone calls or social media messages with urgent demands or pressure to act immediately
• Offers or investment opportunities that sound too good to be true
• Requests for payment via wire transfer, gift cards or cryptocurrency
• Unusual communication such as typos in email addresses, voice inconsistencies, strange phrasing, etc.
• Pressure to keep the “opportunity” secret from your advisors and family

Watch Out for Phishing Scams

Phishing refers to the act of sending fraudulent emails that seem to come from a reputable source but are actually sent by scammers. Some phishing emails attempt to convince the recipient to share personal information that can be used to commit identity theft. Other emails contain corrupted links that, when clicked on, install malware on the device that is used to interfere with the system’s operation or access personal data.

Remember that if you receive an email with an offer that seems too good to be true, it probably is. Similarly, if you receive an email that appears to be from a financial institution, government agency, such as the IRS or Social Security Administration, or other seemingly reputable source, do not click on links or provide personal data until you’ve confirmed the email’s legitimacy. To do so, open up a new browser, directly type in the organization’s verified website address, and call the official phone number listed. Never trust website links or phone numbers provided in suspicious emails.

Strengthen Your Cyber Protections
The following best practices can help protect you from fraud.

• Enable multi-factor authentication (MFA) on all financial and email accounts. MFA requires that you provide two sources of data to gain access to your account. In addition to a password, the second piece of data may be a code sent to your phone number, a facial or fingerprint scan, or a series of security questions only you would know the answer to. This makes it more difficult for a hacker to access your account.
• Usee strong, unique passwords, change them often and resist the urge to write them down. A password manager can help securely manage your various logins.
• Install and regularly update security software. All internet-enabled devices should be equipped with strong security software that includes antivirus protection, firewalls and intrusion detection. Never connect to the internet without these protections in place.
• Never click on unsolicited links or open attachments from unknown sources.
• Place a credit freeze with each of the major credit bureaus – Equifax, Experian and TransUnion.
• Regularly review your financial accounts and statements for unauthorized activity. Immediately report any unfamiliar transactions to your financial institution.
• Only use secure wi-fi networks. Never access financial or personal data over public wi-fi or unsecured networks.

Could you use some help protecting your wealth from possible scams? We would love to have a conversation. At North Oaks, we support clients in building strong financial futures, one brick at a time. Schedule a call to learn more.

This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal or investment advice. If you are seeking investment advice specific to your needs, such advice services must be obtained on your own separate from this educational material.

All investing involves risk including loss of principal. No strategy assures success or protects against loss. Rebalancing a portfolio may cause investors to incur tax liabilities and/or transaction costs and does not assure a profit or protect against a loss. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio Diversification does not protect against market risk. Asset allocation does not ensure a profit or protect against a loss.

As warmer weather and the long days of summer approach, you may not be thinking about your finances. However, it’s important to regularly check in on your portfolio, and there’s no better time than now. A mid-year review is one of the most important steps you can take to help ensure your finances remain on track, for several reasons.

1 – Markets don’t take a break… neither should your strategy. 

The first half of 2026 has brought significant volatility in the form of inflation, rising gas prices, geopolitical uncertainty, market fluctuations and more. It’s important to review how these factors may have influenced your portfolio. A mid-year review is a great opportunity to:

• Identify any drift away from your target allocation and rebalance accordingly.
• Compare your actual performance to your personal goals and long-term benchmarks.
• Reevaluate underperforming assets.

2 – Tax planning strategies are most effective when employed throughout the year.

Tax planning should be a year-round event, and mid-year serves as an important reminder to proactively manage your tax exposure. Work with your financial advisor to:

• Harvest investment losses to offset gains.
• Evaluate where you stand on your required minimum distribution (RMD) if you’re required to take one.
• Review Roth conversion opportunities.
• Adjust retirement plan contributions for maximum tax efficiency.
• Consider charitable giving opportunities.

3 – Mid-year rebalancing helps maintain your intended risk and target allocation.

Regular rebalancing is an important portfolio maintenance task. When strong-performing assets grow faster than others, your portfolio can drift away from its target allocation. If not rebalanced, this drift can expose you to unintended risk. Portfolio rebalancing:

• Forces you to sell high and buy low, which is an essential investing principle.
• Restores your intended risk level.
• Helps maintain proper diversification.

4 – Life often changes faster than you realize.

Many things can happen in six months. Mid-year is a great time to review any changes in your life and how they may impact your financial strategies. The following changes have the potential to impact your risk tolerance, time horizon, cash flow needs, tax situation, savings goals, withdrawal strategies, long-term goals and more.

• Marriage
• Divorce
• The birth of a child
• A loved one’s death
• A new health diagnosis
• An inheritance, business sale, bonus or other large influx of capital
• A major purchase such as a new home, boat, college expenses, etc.
• A job change or promotion
• A change in your retirement timeline

5 – Regular check-ins can provide financial clarity and confidence.

Perhaps the greatest benefit of a mid-year review is the clarity it can provide. Knowing your portfolio is aligned with your goals, properly diversified, tax-efficient and managed with intention can provide confidence, especially during periods of market uncertainty.

Could you use some help conducting your mid-year financial review? We would love to have a conversation. At North Oaks, we support clients in building strong financial futures, one brick at a time. Schedule a call to learn more.