While no one wants to consider the possibility that they’ll decline as they age, the statistics are irrefutable. It is essential for advisors to continue to be educated about the realities of aging and financial elder abuse, and to have conversations with clients on these topics early and often. A collaborative team approach can be a powerful support system for clients experiencing cognitive decline and for those who love them.
Judith Saxe is the director of research and education for wealth strategies and a senior wealth strategist at CIBC U.S. Private Wealth Management.