Securities America Releases New Guide to Address Diminished Capacity and Elder Financial Abuse
The independent broker-dealer created the "Working with Clients Displaying Diminished Capacity and Recognizing Elder Financial Abuse Guide" as a result of conversations with top advisors at a recent Master's Series study group. The group of Securities America advisors shared both their experience with these difficult situations and their concerns about being able to assist clients and protect their practice at the same time. In response, the practice management solutions experts formed the guide to help all advisors be better prepared to meet the needs of an aging population.
"Raising awareness on this topic for all our advisors addresses risk management issues, and provides a platform to offer a higher level of client engagement," said Kirk Hulett, executive vice president of strategy and practice management for Securities America. "We interviewed several advisors and then had our team of experts build out a comprehensive resource designed for protecting both the advisor and the client."
The guide includes signs to look for if you suspect diminished capacity as well as steps advisors can take to protect everyone involved. It also addressed the serious issue of recognizing elder financial abuse and steps that can be taken if it is suspected.
About Securities America
Securities America is one of the nation's largest independent broker-dealers with more than 1,800 independent advisors and $50 billion in client assets.
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Advisory services offered through Securities America Advisors, Inc., an SEC Registered Investment Advisory Firm. Securities offered through Securities America, Inc., member FINRA/SIPC.