Recent studies have found that as people age, many lose their ability to make sound financial decisions, yet at the same time their confidence in their decisions increases. That poses an important question for financial planners: What can be done to safeguard their elderly clients’ hard earned assets?
“In most cases, the senior is targeted with a sales pitch for high-risk investments like multiple annuities, illiquid, non-publicly traded REITs or limited partnerships that can ultimately land him or her in hot water,” explains Michael D. Chamberlain, a fee-only planner with offices in Sacramento, Campbell and Santa Cruz, Calif.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access