Financial professionals called on to help prevent financial fraud against senior citizens

The following is an article taken from the Morning Call which is a business periodical in the Lehigh Valley area of Pennsylvania. This is simply more validation of the vast financial risk facing Americans today. The premise that somehow Financial professionals will protect you is unfortunately akin to having the fox patrol the hen-house. Many of the direct financial victimizations have been perpetrated by financial professionals. Asking them to be your protector would not only be short sighted it would be welcoming the oncoming surge of financial victimization. The only true methodology to protect you from financial victimization is to have a totally non-biased objective advocate watching over your financial well-being. That’s exactly what we provide at the Advocacy Network. Without question we are the only full service protection platform against all forms of financial victimization. No conflicts of interest, no ulterior motives and no biases at all. We only serve to protect YOUR best interest in all financial matters.

Here is the article:

Pennsylvania is one of 11 states trying out a new program to enlist financial professionals to help prevent senior citizens from being ripped off.

The state Department of Banking and Securities is teaching investment advisers and brokers to identify unusual or suspicious behavior or transactions by their clients that could be a sign they are being exploited by a scammer.

“With so many senior citizens calling Pennsylvania home, it is critical that our commonwealth’s financial services community understand the distinctive challenges facing their older clients as well as what they can do to prevent this form of abuse,” banking and securities Secretary Robin Wiessmann said in a statement.

The department is using the “Senior$afe” training program developed by the North American Securities Administrators Association and the Maine Council for Elder Abuse Prevention.

In addition to teaching financial professionals signs of possible fraud, the program explains how adult protective services works to protect senior citizens and how they can report suspicious behavior or account activity to help protect their clients

Pennsylvania is one of 11 states trying out a new program to enlist financial professionals to help prevent senior citizens from being ripped off.

The state Department of Banking and Securities is teaching investment advisers and brokers to identify unusual or suspicious behavior or transactions by their clients that could be a sign they are being exploited by a scammer.

“With so many senior citizens calling Pennsylvania home, it is critical that our commonwealth’s financial services community understand the distinctive challenges facing their older clients as well as what they can do to prevent this form of abuse,” banking and securities Secretary Robin Wiessmann said in a statement.

The department is using the “Senior$afe” training program developed by the North American Securities Administrators Association and the Maine Council for Elder Abuse Prevention.

In addition to teaching financial professionals signs of possible fraud, the program explains how adult protective services works to protect senior citizens and how they can report suspicious behavior or account activity to help protect their clients

Pennsylvania is one of 11 states trying out a new program to enlist financial professionals to help prevent senior citizens from being ripped off.

The state Department of Banking and Securities is teaching investment advisers and brokers to identify unusual or suspicious behavior or transactions by their clients that could be a sign they are being exploited by a scammer.

“With so many senior citizens calling Pennsylvania home, it is critical that our commonwealth’s financial services community understand the distinctive challenges facing their older clients as well as what they can do to prevent this form of abuse,” banking and securities Secretary Robin Wiessmann said in a statement.

The department is using the “Senior$afe” training program developed by the North American Securities Administrators Association and the Maine Council for Elder Abuse Prevention.

In addition to teaching financial professionals signs of possible fraud, the program explains how adult protective services works to protect senior citizens and how they can report suspicious behavior or account activity to help protect their clients

Earlier this month, state officials shared the advice with executives at Vanguard.

“Vanguard takes very seriously our obligation to safeguard our clients’ assets and are pleased to support the Senior$afe initiative. We look forward to augmenting our best practices to increase the safety and security of our clients,” William Matysik, head of global fraud prevention at Vanguard, said in a statement.

paul.muschick@mcall.com