Let's say your client is an older gentleman -- and his adult daughter tells you that he has recently been diagnosed with dementia, and asks you to help in some undefined way. You may immediately think, "This is their problem; I just manage the money." But is that a safe way to treat a multimillion-dollar client --particularly one you've known for decades?
As an attorney, health care professional and now consultant to the financial services industry, I think financial professionals can no longer just hope the issue will go away. How many frustrated family members are going to take aging clients' assets away from your management because you don't know what to do and aren't willing to get out of your comfort zone to protect a vulnerable client?
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