An investigation on higher risk investments was initiated by Massachusetts Secretary William Galvin today. Reports said that the official launched the probe targeting "alternative investments" to seniors.

Galvin said that these high risk investments include placements such as non-traditional securities as investment trusts in real estate, oil and gas ventures and partnerships, tenancy in commons, structured products, and 506 private investments.

He said further that the securities are especially appealing to seniors due to a higher return of investment compared to traditional placement options currently available to them. Galvin made a warning to these seniors, saying greater returns always come with greater risks.

His warning continued, explaining to seniors that these specialized investment options are too complex for the average investor to comprehend. They are "accidents waiting to happen", said Galvin.

Investors who venture into such complicated transactions are doomed to fail when handled by untrained agents, who more often than not, will push the placements into unnecessarily high commissions, explained the secretary.