Referrals

Instruction should focus on the specific needs of the elderly, including how to spot and deal with cognitive decline or financial abuse.

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.

Signs of potential cognitive decline among elderly clients warrant immediate and concrete action from advisors.

"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."

Investigating potential elder abuse can be tricky, particularly when dealing with a long-time client who might be suffering from cognitive impairment.

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.

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.