James D. Hallett sensed that something Was not right. The CFP, who’s president and chief compliance officer of Hallett Advisors in Port Angeles, Wash., was in an “urgent meeting” called by a client’s wife, her brother and her sister-in-law.
The wife said her husband had recently been diagnosed with dementia. “She said she did not understand their finances and added that ‘my husband always handled things,’ ” Hallett says. “Immediately, her brother launched into a detailed set of questions about my client’s investments, which included jointly owned accounts and [IRAs] in the husband’s name.”
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