“All I can do is say: Please partner with us. We’re hoping this will become a culture shift where reporting and then following up with adult protective services becomes an expectation in your firm.”
Citing the growing number of cases of family and caregiver financial fraud against seniors, Delagrammatikas said advisors and their staff are often the frontline of defense for vulnerable seniors. “That’s where we need you to step in, between family members if needed, to protect seniors against financial exploitation.”
Delagrammatikas also said she hopes advisors take full advantage of the new Finra rule that allows them to collect and use a trusted contact for each client if they see something out of the ordinary happening. “This allows us to get back to someone as well to ensure the senior is making decisions they should be,” she added.