The reason that a Squared Away * article caught my eye was because of the matter of “trust.” The trust that a senior individual (or anyone for that matter) has in their financial (and legal) advisor.
The Squared Away article titled: Cautionary Tale of Defrauding the Elderly (February 8, 2018) is a sad saga of broken trust between senior individuals and their financial advisors.
From fraudulent college tuition; to diverted funds; to failed wind farms; to inflated fees, it is a truly disturbing pattern of fraud committed against a vulnerable part of our society.
As the article states: “Retired people with nest eggs can be an enticing target for scam artists…”
And more worrisome is that financial fraud against the elderly is on the rise.
The warnings should be heeded, not only by retired people and those who take care of the interests of the elderly, but also by all professionals holding fiduciary responsibility.
Working To Preserve Your Wealth and Protect Your Future…in a Constantly Changing World
Please read my full Disclaimer and How I Can Help You
Visit my website – www.attorneybarbaradalvano.weebly.com for over 250 articles and printable infographics
* Squared Away is the blog of the Center for Retirement Research of Boston College
www.squaredawayblog.bc.edu