Update your knowlege on what the SEC, FINRA an NASAA have in mind for financial professionals across the country in how they do business with clients over age 65. We'll review the research these agencies have done, model rules regulators have created, and what exemplary things they found firms and organizations doing for aging clients. All regulatory organizations want financial professionals to be more protective of their aging investor clients. They envision mandates for reporting financial abuse of elders will and expand mandates into other areas. This course highlights areas regulators expect advisors to address, such as training in senior issues and increased communication with aging clients. You will be provided with specifics on how to get ready for what the regulators want so that you will not have to scramble to comply with mandates.
Aging clients present many challenges for their financial advisors. There are physical changes in hearing, vision, and mobility as well as memory issues. This course will arm you, the advisor, with learnings on how to accommodate for the changes that normally accompany aging to best serve older clients. It also offers strategies to address changes that are not normal, such as cognitive decline and loss of capacity for financial decision making. Talking to clients about these topics is likely to be uncomfortable. With the expertise of the psychologist who helped author this course, conversation scripts are offered on how to bring up and talk about delicate subjects tactfully. We illustrate advisor-client dialog with videos and demonstrate the best ways to talk to a client about giving up decision-making authority when impairment sets in.
Builds on skills offered in the "Improving Intergenerational Wealth Transfers" course, adding an in-depth exploration of family conflicts and explanation of obstacles an advisor is likely to encounter in meeting with clients' families. We will suggest how to spot danger signs that should prompt an advisor to seek help from outside experts to manage family meetings. The course discusses the legal implications of using both outside experts and a client's own experts to help prepare heirs for managing inherited wealth. Because we know that not everyone in every family gets along well, you will learn how the use of professionals skilled in the art of conflict management can help families reach agreements with each other on wealth management issues. This is important whether or not they have had historical issues with internal communication. This course helps advisors to not be overwhelmed by difficult client families.