Lam and Quinn, along with Don Blandin, president and CEO of the IPT, and dr. Robert Roush, director of the Texas Consortium Geriatric Education Center, Huffington Center on Aging and Baylor College of Medicine, took part in a recent news conference announcing the results of the survey.
adds that financial advisors who have clients of long standing should look for signs of change, like neglecting personal appearance or hygiene that can indicate impaired judgment.
Red flags that should trigger questions are catastrophic events like the death of a spouse or a client asking to change a will, change power of attorney or change life insurance.
has a financial checklist that financial planners can use to know what to look for that is available on its website at www.investorprotection.org.
"We have begun to realize there is a neurological basis for seniors being vulnerable to financial swindles," Roush
"That financial abuse of older Americans is rampant today is no commentary on seniors and their judgment; it is a simple medical fact of life that many older adults are highly vulnerable to being financial exploited," Roush