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Helping Clients Spot Common Types of Medicare Fraud

Posted by Joe Trifiletti on 11/20/19, 11:20 AM

 

Editor's Note: This is the second post in a series for International Fraud Awareness Week, November 17-23. Fraud is one of the most serious issues clients deal with today. We hope that through this series, Financial Advisors gain a deeper awareness of the types of fraud their clients face and an understanding of how to help spot it before any damage is done.

TL;DR Summary:

  • More than 10,000 Americans reach 65 years of age per day. Medicare is becoming the single most important healthcare security for senior citizens.
  • A few common types of Medicare Fraud are eating away money from your clients and taxpayers: Upcoding and Unbundling, Phantom Billing, Kickbacks, and Waiving Unqualified Medicare co-pays and deductibles
  • Equipping clients with knowledge of these frauds and the laws to protect them could save countless hours and dollars.
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Topics: Financial Advisors, Medicare, Medicaid, Financial Fraud

Robocall Scammers are Targeting Asian Americans at Accelerated Rates

Posted by Joe Trifiletti on 11/18/19, 2:49 PM

Editor’s Note: This is the first post in a series of blogs for International Fraud Awareness Week, November 17-23. Fraud is one of the most serious issues clients deal with today. We hope that through this series, Financial Advisors gain a deeper awareness of the types of fraud their clients face and an understanding of how to help spot it before any damage is done.

TL;DR Summary:

· Asian Americans have become good targets for fraud. Their inclination towards loss aversion and fears related to immigration issues are a few reasons why scammers are targeting this population.

· Illegal Robocalls are a major issue being investigated by the FCC and the FBI.

· Robocalls have caused severe financial loss amongst Chinese Americans specifically with a reported loss of $164,000 on average per incident according to FBI’s Internet Crime Complaint Center.

· Financial Advisors can help their clients save thousands of dollars from four handy tips on how to spot Robocall fraud.

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Topics: Financial Advising, Financial Fraud

Two Industry Leaders Working to Standardize ESG Reporting

Posted by Joe Trifiletti on 11/14/19, 11:14 AM

 

 
In September 2015, news of Volkswagen's prolonged dishonesty regarding the U.S Clean Air Act and air pollution tests wiped out close to $17.6 billion in their market value — making the stock of the largest automaker in the world plunge 23% according to Bloomberg. This emission scandal highlighted the need and importance of environmental, social, and governance criteria (ESG) in evaluating the risk factor of potential investments in companies. More than ever, investors are looking beyond financial returns and want the companies they invest in to be responsible for their environmental impact, the conditions of labor, and other behaviors that have a profound effect on the planet and people. ESG data provides a way to hold companies accountable for their actions beyond the PR campaigns and potential “ greenwashing” their marketing departments put out there. But how is ESG data collected, analyzed, and reported?
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Topics: Impact Investing, ESG

Advisor Spotlight: Brian Ginty

Posted by Jeso O'Neill, Director of Communications on 11/5/19, 1:40 PM

 

Each month Vanderbilt Financial Group features an Advisor in the Vanderbilt family who exhibits the VFG values of Gratitude, Respect, Innovation, Teamwork and Trust on a consistent basis. These values impact their work with clients and VFG staff, and ultimately pushes for an excellence in their business practices that is unparalleled and incredibly unique. Beyond high-level producers, these Advisors offer sage advice and best practices for boosting your business on your terms according to your values.  

This month I spoke to Brian Ginty of Hudson Valley Financial Services. We chatted about the transformation of technology on the trading desk. Brian laid out some sage pieces of advice for young Financial Advisors just building up their book. 

Listen in on the audio version below or continue on to read the transcript.

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Topics: Financial Advising, Independent Financial Advisor, The Advisor Spotlight

The Top 3 Things Clients are Afraid of (And How to Ease Their Fears)

Posted by Moira Do on 10/31/19, 10:31 AM

 

The origins of Halloween date back 2000 years ago when the Celts, who lived around Northern Ireland, celebrated their New Year on November 1. This day was believed to be the beginning of a dark, cold winter with low food supplies, and increased opportunity to meet a mortal’s end. It was said that on the evening before this new year, the boundary between the world of the living and the dead was believed to become blurred. Ghosts and ghouls returned to Earth with tricks and spookiness abound.

Now a popular holiday worldwide, Halloween’s frightening undertone isn’t only because of the spooky costumes, it’s also the stories we pass on to one another. Each industry deals with scary stories and fears that aren’t always life-threatening or haunted, but still a scary story indeed. To commemorate this, we gathered a group of Vanderbilt Financial Advisors to pass on their stories about the worst fears they see in clients and how they ease them.

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Topics: Client Relationships, The October Effect, Investment Fears

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