Seven Tips For Protecting Clients From Elder Abuse

It’s more important than ever to look at the role active managers can play in protecting elderly individuals from making poor investment decisions.

The numbers on elder abuse never fail to shock.

According to the National Center on Elder Abuse, roughly one in 10 Americans over the age of 60 experience abuse. Fully half of those over age 85 have some form of cognitive impairment. How many of your clients fit into these vulnerable demographics, and how many of them have plans in place to protect themselves from exploitation?

Families must put strategies in place that address the possibility of mental impairment and establish checks and balances to ensure the appropriate safekeeping of their loved ones’ financial assets. According to Jonathan Fitzgerald, director of wealth and fiduciary planning at Wilmington Trust, with the increase in robo-advisor solutions in particular, it’s more important than ever to look at the role active managers can play in protecting elderly individuals from making poor investment decisions. Here are some of his suggestions.

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