older clients – Page 8 – AgingInvestor

Protecting your aging parents from scams

Jun 18, 2016 | aging, aging investor, elder investor, elderly, financial elder abuse, investor, scammers, senior citizen investor, senior investor

Four Things To Tell Your Clients About Avoiding Scams

Jun 18, 2016 | aging, elderly, financial elder abuse, scammers, senior investor

There are so many scams popping up in our world, it’s hard to keep track of them. The scammers target specific groups, such as older people or people who speak Spanish or anyone they hope to fool. Every professional can be instrumental in helping stop the scammers.

The Department of Justice and the Federal Trade Commission have joined forces to help educate the public. They’ve put out these four tips to pass on to every client, whether you believe they are in a vulnerable targeted group or not. (more…)

A Great Way To Distinguish Yourself As A Professional

Jun 18, 2016 | aging investor, investor, senior citizen investor, senior investor

Doesn’t every professional want to stand out from the crowd? Be better at delivering services? Somehow get a reputation as a cut above the average guy or gal in the biz?

It’s hard to sell the idea that you give better service when you are doing essentially what your competitors do in the same space. The secret is in offering a different service from the others in your field, besides the usual expertise in your field clients have a right to expect use the best essay editor source.

What will that different service be? If you want to focus on senior safety, that can be it. We don’t mean that you know about the things seniors need to know about, such as retirement strategy, estate planning, moving, wealth preservation, tax planning and all that. It will be about specifically protecting them from abuse.To do that, you’ll need a senior-specific policy that spells out how you can protect a client.
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Can You Prevent Your Aging Clients From Being Victimized?

Jun 17, 2016 | aging, aging investor, diminished cognition, elder investor, elderly, financial capacity, financial elder abuse, senior investor

Your elderly clients are exactly what professional thieves are looking for. They know, from the massive success they’ve had in stealing from elders, that age is the biggest risk elders have that can affect their money judgment.

But as a professional, is it really your business to keep them safe from outside predators? It’s one thing if the person taking advantage is in your own organization or office. That puts an obvious burden on you to act. But it’s the subtle things that you learn from your client about losing money to someone that should get your attention too.

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Why Your Aging Client Can’t Tell He Has Memory Problems

Jun 17, 2016 | aging, aging investor, diminished cognition, senior investor

And yet, these elders seem so oblivious. If you point out logically that they’ve forgotten the earlier phone call, there will either be an embarrassed excuse or a denial. Even if you read her your notes of the earlier phone call you both had and that the question was answered, she will not going to accept that and she might get very angry with you for suggesting that she isn’t fine. Why is this? Why can’t a person who is forgetful just say it and admit it? Are they being purposely difficult?

The best way to handle an aging client with memory loss is to make use of that permission your client gave you to contact a third party to contact (often an adult child) so you can discuss the problem and then take protective action.

But, I don’t have permission to contact a third party, you say? Now that’s a significant problem. Here at AgingInvestor.com, we urge every advisor anywhere and in any setting to first have a policy to guide you in the event that a client develops memory loss or dementia at any time. As a part of that policy, you will have a special document that allows the client to make a choice of what will happen if you see cognitive impairment or diminished capacity at some point in the future with that client. In that same document, the client waives the usual right to privacy over their financial information, and allows you to share it with the person they appoint. That will help you do the right thing.

For any advisor, lawyer, real estate professional or insurance broker, the same applies. If you don’t have a senior-specific policy in place, you need to develop one. If you don’t have a special form to use with clients in which you ask them to appoint a third party you can contact in the event you observe diminished capacity in your client and at the same time have them waive confidentiality if the time comes, you need to do this now. If you aren’t sure how to go about developing a senior-specific policy, we understand. It’s a little complicated and you need guidelines and a format.

We have just the thing for you. We have created a Ten Step Policy Development Template, complete with forms and instruction in how to create a great policy at AgingInvestor.com. Get yours and you will be ready to go in a very short time. We’ve taken the guesswork out of the equation and that will save you time and money. It’s almost done for you. Your particular goals will be met.

Click here to learn more!