IRI Urges Advisors To Fight Elder Financial Abuse
August 1, 2018
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Is there a disconnect? we have the following quote in which advisers suspect elder abuse-mainly by family members or friends and yet the article (and our industry) are mostly concerned about advisers taking advantage of seniors? And, what regulator approved training are you talking about? 'According to an IRI survey of 150 financial advisors, more than half of them said they suspected cases of exploitation of older investors that was going on regularly—ranging from a few times a year to weekly. Sixty percent of advisors say the most frequent type of abuse is misuse of funds by trusted family members or friends.'