Displaying 27 results
Omaha senior loses thousands to Dave Ramsey impostor
A scammer lured the 72-year-old into a fraudulent bitcoin investment by spoofing the advisor-cum-radio show host’s website.
Older people lose $28B to scams, maybe due to a more trusting nature
University of Florida research reveals years of experience can be a bad thing.
SEC bars ex-Morgan Stanley broker who stole from his mother
The SEC alleged that Texas broker Doug McKelvey misappropriated more than $1.7 million.
Ex-broker with career at failed firms gets 7 years for tech scheme
Isaac Grossman hopped from firm to firm over his 13 years in the securities industry, and eventually was permanently barred from acting as a broker by Finra.
Bipartisan Senate bill targets senior financial exploitation
Legislation would establish a program that provides $10 million annually to states to investigate, prosecute abuse.
Barred adviser to fight elderly theft charges in court
Jeffrey Dampf was barred from the securities industry last week for not cooperating in Finra's investigation of allegations that he stole money from elderly clients.
State regulators: Advisers fall short in guarding against senior financial abuse
A NASAA exam sweep shows that more than half of advisers lack policies and procedures to address exploitation of elderly clients.
Meeting the growing need for financial caregiving
A new tool tracks spending and sends alerts about unpaid bills and potential elder fraud, helping families to organize and protect the daily finances of an aging loved one.
FSI advocacy priorities for 2021
For independent advisory firms and advisers, the Biden administration’s approach to regulation will be among the most consequential outcomes of the November elections.
Regulators must address savers’ cognitive decline
Today, unfortunately, cases of cognitive decline are prevalent, and the informal and below-the-radar approaches that addressed the issue in the past are inadequate to meet the current challenge.
Complying with state senior reporting statutes
Firms must consider the interplay between different reporting laws in each state to maximize their immunity
SEC charges former Morgan Stanley rep with stealing $6 million from clients
Michael Barry Carter pleads guilty in a parallel criminal action in Maryland federal court
IRS warns stimulus payments will attract scammers
The payments present opportunities for scams, identity theft and low-tech crimes such as stealing checks from mailboxes
Seniors face increased risk for financial exploitation associated with COVID-19
The efforts to limit personal interactions in response to the virus may exacerbate another scourge: Elder fraud
Three blind wealth management execs and the demographic elephant
One really big issue can have completely different meanings depending on an executive's viewpoint
Costs of elder fraud aren’t always financial
More than two-thirds of advisers said the emotional toll on clients is substantial, according to a survey
‘Trusted’ professionals are targeting older Americans
Elderly fraud often involves professional firms and companies, including banks, financial advisers, insurers and law firms.
New Hampshire law aims to protect vulnerable elderly
State will allow advisers to delay disbursement of funds in certain circumstances
State measures to prevent elder financial abuse gaining steam
A growing number of states are looking to pass rules preventing exploitation of seniors
Adviser Daniel Glick charged with ripping off elderly, including his in-laws
Prosecutors claim Daniel Glick used some of the funds for personal and business expenses.
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