By: Bryan Beatty | October 22, 2009 | Deceptive Sales Practices
In a filing with FINRA titled – FINRA Bars Former New York Broker for Defrauding Elderly Investor of More Than $500,000.
Do you worry about protecting you loved ones from being taken advantage? You should. It is not uncommon for unscrupulous insurance agents and brokers or advisors to pose as a specialist in the senior or aging community. In doing so they win the trust of seniors in a way which opens the door to potential abuses.
If you or your family has an aging parent or aunt or uncle perhaps you should know who has access to the nursing home. Check with management about the rules on solicitation. Is there a policy that acts as some protection for care giving facilities with regard to access to seniors.
This not to say that all advisors or brokers do bad things or rip people off, but it is to say there needs to be a policy that protects the adult population in the adult care community. If they don’t have one then I would recommend they adopt one. You can help by understanding yourself how to protect yourself using some simple tools like. This is where you can read about some of the complaints and violations of someone who might be speaking to your loved one.
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