Integrated Partners is expanding its efforts to shield older clients from financial harm through a newly announced partnership with Carefull, a financial safety platform focused on aging households.
The $21 billion RIA said Tuesday it has formally partnered with the New York-based fintech to equip its more than 220 financial advisors with tools to identify and address early signs of financial fraud, identity theft and other forms of elder abuse. The move comes amid growing concerns over how artificial intelligence is helping scammers target seniors more effectively.
The FBI's latest Internet Crime Complaint Center report released last month found individuals aged 60 and older reported $4.88 billion in losses to cyber crimes last year, marking a 43 percent increase from 2023. Perhaps unsurprisingly, elderly victims accounted for the largest volume of complaints – totalling 147,127 – and the most reported losses by dollar value across all age brackets. Another report by Finra in January warns of increased risks firms and investors face from fraud and AI, among other new and emerging areas.
An AARP study in 2023 points to an even larger problem for US seniors, suggesting they lose $28.3 billion annually to financial exploitation. That includes roughly $20 billion taken by exploitative friends and family members, and $8 billion going to strangers.
“As scammers get smarter, our industry must get smarter, too,” Andree Mohr, president of Integrated Partners, said in a statement. “Choosing Carefull as a strategic partner allows our advisors to offer a high-touch service that protects clients from real-world threats of fraud, scams and money mistakes.”
The partnership gives Integrated’s advisors access to Carefull’s AI-driven platform, which scans for irregularities such as suspicious transactions, abrupt spending changes, and shifts in financial behavior. The platform then flags risks and provides step-by-step guidance on how to respond. A client-facing portal also lets advisors monitor engagement without taking on the burden of daily oversight.
For Integrated, the arrangement serves multiple purposes: protecting vulnerable clients, easing financial caregiving for families, and fostering stronger cross-generational ties.
“Fraud and scams have always been a threat – but with AI, they’re becoming more sophisticated,” said Todd Rovak, co-founder of Carefull. “Protecting wealth means protecting more than assets – it means safeguarding the trust, identity and daily financial life of every client.”
Integrated is positioning the partnership as part of a broader strategy to deepen relationships with clients' extended families. By addressing elder fraud and financial caregiving proactively, advisors can offer support that resonates beyond the primary account holder.
“It’s the kind of practical innovation that fits seamlessly into our advisors’ businesses while extending value to the families they serve,” Mohr said.
Carefull's tools are already in use at several wealth management firms and credit unions. For Integrated, the partnership is also expected to help drive retention and growth, particularly by establishing relationships with next-generation family members who may one day inherit client assets.
Integrated Partners has more than 200 affiliated CPAs and 116 regional offices across the US.
The group led by a 37-year industry veteran brings $470 million in assets to the Philadelphia-based broker dealer.
The Atlanta, Georgia-based national wealth firm revealed its new PE partner as prior backers Wealth Partners Capital Group and HGGC’s Aspire Holdings exited their investments.
The latest departures in Ohio mark another setback for the hybrid RIA, which is looking to "expanding its presence across all models and segments of the wealth management industry.”
The St. Louis-based real estate investment firm gives the asset management giant a valuable access point to the roughly $1 trillion net lease market.
Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
