Follow these tips to proactively sentinel your accounts:

  1. Review each statement immediately, brokerage and banking (ID theft is rampant and you could get stuck with the bill if over 30 days);
  2. Test the waters: do something in your account like a small trade, exchange, withdrawal, etc. (consider tax ramifications first) and watch the mail for a confirmation in 3 to 4 days;
  3. Call a “third-party” such as the broker-dealer back office or mutual fund or annuity custodian (someone other than your personal advisor) to verify your account info and positions.

Bernie Made-Off with investor’s savings because he controlled everything, from trades to statements to communications, so don’t be afraid to find out who else is watching the store.

Click here to read about more ways to Madoff-Proof Your Portfolio.