10 retirement risks facing your clients
Financial abuse risk
The possibility that an adviser, family member or stranger might prey on the frailty of the client, recommend unwise strategies or investments, or embezzle assets.
“Working with a trusted financial adviser can provide an important line of defense in spotting and reporting financial abuse. Advisers are often in the best position to monitor financial activity and patterns; identify suspicious or uncharacteristic spending, withdrawals and investing; and are often familiar with the various relationships in a client’s life.”
— Robin Traxler, senior vice president, Financial Services Institute