State securities regulators will soon offer training for investment advisers and brokers to help them detect and report financial exploitation of elderly clients.
Next month, the North American Securities Administrators Association will make available to its members a training program called Senior$afe, developed in Maine for bank and credit union employees. The initiative will be modified to apply to other financial services professionals.
The program, created by the Maine Council for Elder Abuse Prevention, includes a presentation highlighting behavioral and account-management changes that may indicate a senior client’s cognitive decline and financial abuse. The other part of the training focuses on reporting incidences within a firm and to outside authorities.
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