State, OU Join Forces For Investment Radio Series

Radio taping began this week for a series of Oklahoma investor education programs through the state Department of Securities and the University of Oklahoma’s Outreach program.

The first component, a series of 60- second informational spots called the “Wise Investment Minute,” will warn

Against the latest frauds as well as provide investor education information such as explaining variable annuities, radio program director Lisa Angelotti said.

“I can’t really say much about the second component; it’s still under wraps right now,” Angelotti said. However, she did reveal the hosted program will be more akin to the nationally syndicated investor advice of The Motley Fool. “ It’ll have a little more personality from the DJs, involving a whole stock market game where listeners can participate. It’s excellent for educator education. Folks will absolutely love it.”

Rex Lynn, an Oklahoma native and actor on the CSI: Miami television show, has agreed to do some of the voice work for the show.

The radio show is just one facet of the Wise program, or Winning through Investment Strategies and Education, which was originally envisioned to help Oklahoma avoid con men and rip-off scams, Securities Department Administrator Irving Faught said. Wise will include a summer institute for high school teachers, “stock camps” for youth and adults and workshop for newlyweds and adults nearing retirement. Faught said radio and newspaper media promotions will send investors to the Internet site, www.wiseok.org, for more through coverage of topics.

The series of 130 radio spots will run for about six months, Angelotti said. She was unable to reveal stations and broadcast times. She said the public service announcements and the hosted radio show are unbiased and do not promote any business or agency.

Faught said Wise is funded with $400,000 in multi-state settlements won by the Securities Department, which allowed under law to be spent on investor education.

To better determine what topics on which to focus, OU and Faught’s department surveyed Oklahomans on their investor knowledge.

Results of a joint survey by OU and the department, which are posted on the Securities Department’s internet site www.securities.state.ok.us, reveal:

· Oklahomans are not particularly enthusiastic about the current economic conditions of the nation or state.

· Only 7 percent of respondents consider their personal finances to be excellent; 13.9 percent rate their finances as poor.

· The most commonly cited retirement funding source was Social Security, at 73.5 percent, followed by income from a company pension or other company-based retirement plan, at 59.7 percent.

· Two in five said they see themselves investing in the near future, while 53.2 said they do not pan to do so.

“This partnership offers us a great opportunity to reach a broad range of Oklahomans about the important of understanding investing, making sound financial choices and avoiding fraud and abuse,” Faught said.

Angelotti admitted she’s gained a lot during her preparation of Wise materials for the public, even though she already had some banking career background.

“I’ve learned quite a bit about different kinds of fraud, and quite a bit about the products available,” she said. But Angelotti would not reveal her own investor shortcomings. “I am actually the target market for this project…After this, I will ready to invest.”

Brian Brus reports on metro are government, finance transportation and other issues. You may reach him by phone at 278-2837 or by e-mail brian.brus@journalrecord.com.