-
The more money elderly high-net-worth clients have, the more they may worry that beneficiaries won't use it wisely.
May 29 -
"Advisors that know their clients can smell when something's up," says regulatory and compliance consultant Daniel Bernstein.
May 29 -
Discussions about cognitive impairment and end-of-life issues might be difficult, but they need to happen, and could yield an upside for the advisor's practice.
May 28 -
Surviving spouses will require hands-on help from their advisors to get important tasks done -- before and after a loved one's death.
May 27 -
Regulators will be paying close attention to whether advisors properly safeguard the interests of elderly clients. Here's what to watch for.
May 26 -
Instruction should focus on the specific needs of the elderly, including how to spot and deal with cognitive decline or financial abuse.
May 22 -
Assisting the elderly in resisting financial abusers is often challenging because the perpetrators may be the clients' own relatives.
May 22 -
The time for advisors to discuss cognitive impairment is when clients are still healthy.
May 22 -
Experts say the vast majority of abuse cases involve family members and close friends or associates, but financial professionals play a part, too.
May 22 -
Advisors have an opportunity to play a pivotal role if they help clients crunch realistic numbers about their future financial obligations for elderly parents.
May 21 -
Experts cite challenges in building and prosecuting cases involving elder financial abuse, suggesting advisors need policies and procedures to spot and report issues as they arise.
May 20 -
It’s a new ballgame once a client shows signs of dementia, and investments that made sense before may no longer be suitable.
May 19 -
Signs of potential cognitive decline among elderly clients warrant immediate and concrete action from advisors.
May 18 -
Advisors can help clients find and deploy technological innovations that drop home care costs, but expect some resistance to your suggestions.
May 15 -
Investigating potential elder abuse can be tricky, particularly when dealing with a long-time client who might be suffering from cognitive impairment.
May 15 -
"Clients balk at giving even a close relative a POA that is immediately effective, (but) really, if you are going to trust someone with your finances when you’re incapacitated, you should be able to trust them when you know what’s going on."
May 15 -
State securities officials are drafting a model rule that would provide advisors cover if they delayed a transaction when they suspected the client was the victim of exploitation.
May 14 -
It's critical for advisors to educate clients about potential scams and if possible, put themselves between seniors and possible fraudsters.
May 13 -
Aging parents could alleviate stress and possible tension if they share their final wishes with their children -- or at the very least, where their accounts are held.
May 12 -
There are four main types of powers of attorney and older clients must be sure to have the right one in place.
May 11 -
With comprehensive planning, hopefully this won’t happen. But if it seems like it might, how can planners help clients who’ve gone broke or are about to?
May 10 -
Planners and clients should determine whether the high premiums on stand-alone policies provide benefits that are worth the price -- and whether coverage provided by riders on life insurance policies is sufficient.
May 8 -
In many states, planners are now required to report if they suspect their clients are suffering abuse.
May 8 -
One firm offers individuals who lack LTC policies, but still have life insurance, an alternative method to pay for care.
May 7 -
You're a financial advisor, not a doctor, but if you're advising older clients, you need to be able to spot cognitive declines.
May 6 -
Cognitive and health issues can make meeting with older clients more difficult. Here are some tips to help advisors break down communication barriers.
May 5 -
With a spousal-sharing rider, couples are betting that they won't both need LTC at the same time.
May 4 -
Helping older clients understand that it would be wise to change their place of residence is a knotty and sensitive task.
May 1 -
As boomers cross the 65 age barrier, they may face elder scams and dementia, but advisors are in a position to help.
May 1 -
Introducing elderly clients to online performance reporting and budgeting tools can be a win-win for advisors and their clients.
May 1