In our blog series on elder abuse (“Elder Abuse: Avenues of Attack”) we brought to light the issue of elder abuse and how it can affect a Financial Advisor’s practice. In our second installment (“How to Protect Your Clients and Your Business Against Elder Abuse”) we mentioned some strategies of protection, briefly mentioning the Senior$afe Act. This bill, if passed by congress, can hugely help to protect advisors, so here are the things you need to know.
In last week’s blog post, “Elder Abuse: Avenues of Attack” we highlighted ways that elder clients are vulnerable to being abused and taken advantage of. We outlined the avenues of attack so that you can now identify red flags when they arise and take action to protect your clients and your business.
Elder Abuse is increasingly becoming an issue that Financial Advisors need to prepare for. As our clients get older, they are more and more vulnerable to a host of abuses that can cause huge losses to assets which can severely hurt a Financial Advisor’s book of business and open up to possible legal trouble. We’ve created a list of the ways Elders can be abused so that you can stay informed and proactive against scams.