Firms will have the power to place a temporary hold on client funds or securities that are to be disbursed if there’s a “reasonable belief of financial exploitation”
Senior clients may be vulnerable to exploitation by family members, friends and strangers. While investment industry groups are finding ways to identify and prevent financial abuse of elders, you can do your part to help protect your clients
The checklists on cognitive decline and financial exploitation will help advisors prepare for the challenges of working with aging investors
State securities regulators to offer training to broker-dealers and investment advisors
The act will create incentives for advisors to report possible exploitation as soon as possible
John Poyser, partner, Tradition Law LLP, Estates and Trusts, explains four steps you must take to protect your client and your practice if you suspect a wealthy, older client is vulnerable to financial abuse.
The proposals are out for comment until Nov. 30
NASAA’s proposal, which is now out for a 30-day comment, was introduced at its annual conference in San Juan, Puerto Rico, on Tuesday