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Can Investors Sue Brokers over Coronavirus Losses?

Can Investors Sue Brokers over Coronavirus Losses?

The pandemic rocked markets like they have not been rocked since the global financial crisis of 2008-9. In many ways, the last few months have done more damage to the financial markets than even that historical moment in time. In fact, volatility was worse due to coronavirus, and many investors lost a very large portion of their investment accounts.

The question is — why? And the next question is — should your financial advisor have better protected you?

Baby Boomers Consistently Neglect Financial Planning

Baby Boomers Consistently Neglect Financial Planning

Recent research by the National Association of Personal Financial Advisors (NAPFA) demonstratest that one out of three baby boomers who are approaching or commencing the retirement stage are yet to do any financial planning in the past two years.

As Boomers Age, Elder Law Expands

As Boomers Age, Elder Law Expands

Approximately one in five Americans who are over 65 will suffer some form of elder financial abuse, and estimates suggest that more than $30 billion is lost every year due to investor fraud, caregiver abuse, and other forms of financial exploitation.

Legislators Seek to Bar Brokers from Client Wills

Legislators Seek to Bar Brokers from Client Wills

Four United States Senators have sent a letter to the CEO of securities industry regulator FINRA asking the agency to bar stock brokers from client wills. Lead by Democratic Senator Catherine Cortez Masto, the Senators have sought to curb elder financial abuse by financial advisors who illegitimately appear in client wills. The move by the legislators came as a result of a Maryland broker receiving $500,000 from a client who was suffering from dementia and had been living in a nursing home.

Major Regulators Issue Senior Safe Fact Sheet

Major Regulators Issue Senior Safe Fact Sheet

Signed into law a year ago, the Senior Safe Act specifically addresses how financial professionals can do a better job in reporting suspected senior financial abuse and exploitation to the authorities. The fact sheet was circulated on the first anniversary of the passage of the Senior Safe Act in order to further promote awareness or resources and training among financial professionals, institutions, senior investors, and their families.

Senior Abuse Often Hits Uncomfortably Close to Home

Senior Abuse Often Hits Uncomfortably Close to Home

Approximately one in five Americans who are over 65 will suffer some form of elder financial abuse, and estimates suggest that more than $30 billion is lost every year due to investor fraud, caregiver abuse, and other forms of financial exploitation.