Protecting Seniors and Vulnerable Adults Against Financial Exploitation | Foreside

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Regulators have listed the protection of senior investors at the top of their examination priorities for years. It should be no surprise with 10,000 people turning 65 every day in the United States (a number predicted to more than double over the next several decades)[1], and Americans aged 70 and older holding 27% of all U.S. wealth.[2] Also consider the fact that the risk of experiencing cognitive impairments, like Alzheimer’s dementia, increases with age. In the U.S., 11% of people aged 65 and older have Alzheimer’s dementia.[3] Diminished cognition affects approximately 20% of people aged 85 years or older.[4] Elderly populations are therefore vulnerable to scammers in various ways, and lawmakers are aggressively pursuing methods to protect senior investors from fraud. As financial stewards, investment advisors are poised at the front lines between their vulnerable clients and the scammers who are constantly in search of new…

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