“Best Practices For Managing Clients With Diminished Capacity”

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Summary of course:

Our population is living longer than ever. The risk of dementia rises with age. That means that most of us are going to encounter problems of aging in our clients.

We need to recognize the red flags of impairment that will affect financial capacity.  These include:

  1. Cognitive signs, such as memory loss and difficulty understanding the conversation
  2. Communication, calculations and orientation problems
  3. Emotional signs that are out of character for your client.

It is essential for every financial professional to understand the complexity of financial capacity and appreciate how many parts it has. There are 9 domains of financial capacity.  You cannot determine if a person is impaired or not just by talking on the phone with her or having a brief meeting in which you  give information.

A normal social conversation with the client is not a measure of whether or not the client has diminished financial capacity.
The more aware you are as a professional, the better chance you have of protecting your client from loss and protecting yourself as well.
 Learning objectives:
  1. Prepare yourself for the wave of aging clients by understanding the demographics of our aging population and the risks of dementia associated with aging.
  2. Understand the 9 domains of financial capacity and learn how to spot problems with any one of them.
  3. Be able to identify red flags of impaired cognition that should prompt you to act.
  4. Develop a personal plan for what to do when you see warning signs of diminishing financial capacity

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