Studies show that the elderly are vulnerable to fraudulent schemes in most instances due to cognitive impairment and often times, it’s by a predator that they know (caregiver, close relative, etc.). A new FINRA rule recently became effective that tries to address this problem. It permits seniors to designate a "Trusted Contact Person" for their investment accounts. Tune in to
- Outline the magnitude and nature of the problem that challenges the elderly
- identify how the new rule is intended to help solve this problem,
- review some of the factors including risks and complications, that the investor needs to take into account in making the decision whether to designate a trusted contact person and whom to designate, and
- discuss what to expect as a result of making such a designation.
This webinar is not just for seniors, but also for attorneys who may have to advise their clients about this decision.