Watch for red flags, such as clients unexpectedly asking for a quick withdrawal of funds
Matthew McGuire, national anti-money laundering practice leader with MNP LLP in Toronto, discusses the signs that an elderly client may be a victim of fraud. He lists the three most common indicators that a deal is fraudulent, and outlines the responsibilities of advisors in the event of a suspected fraud. McGuire spoke to Fiona Collie, web reporter with Investment Executive, at the TMX Broadcast Centre in Toronto.
Continue with regular meetings, and ensure clients remain engaged with their investments after they retire
Certain soft skills can come in handy when working with clients whose health is in decline
Employees of financial firms may be able to spot transactions, activity, or behaviour that signals financial abuse
Securities regulator will teach healthcare workers to spot and report financial abuse of the elderly
Canada, along with other countries, could face credit rating downgrades: Fitch
The number of people over 100 is rising sharply, with younger groups close behind
Program intended to assist elderly members of ethnocultural communities
If the client’s memory begins to fail, advisors can end up in the middle of contentious family disputes