AARP members to monitor ‘free-lunch’ seminars

AARP is collaborating with state securities regulators to monitor “free-lunch” seminars given by financial-product providers. Washington-based AARP's Free Lunch Seminar Monitor program is the “first big nationally organized push” that allows the organization to keep tabs on what's being sold, and how, at financial seminars for older investors, said AARP spokeswoman Alejandra Owens. The group is asking members who are invited to free-meal seminars to complete a checklist about the seminar. The checklist asks what particular products were mentioned at the seminar, specifically annuities, insurance, living trusts, reverse mortgages and long term care insurance. Members return the information to AARP, which will forward the checklists to state regulators. “It's a way for members to protect themselves,” Ms. Owens said. AARP also hopes the monitoring program will deter scammers, Jean Setzfand, the organization’s director of financial-security outreach, said in a news release today.