Report On Securities Helpline For Seniors Released By FINRA

A year-end report was released by the Financial Industry Regulatory Authority (FINRA) about the securities helpline for senior citizens. This helpline fields many calls and assists investors with recovering voluntary reimbursements from firms. There are many lessons that investors can take from this report to be able to better work with senior citizen clients. Because of their vulnerability senior citizens are often targets for fraudsters and scam artists. More than 20% of adults over the age of 70 suffer from some type of cognitive impairment and that can make them vulnerable to scams. Calls to the helpline make it easier for FINRA to identify emerging scams to better protect seniors. The report outlines improvements that can be made to improve in the fight against elder financial abuse.

See FINRA Releases Report on its Securities Helpline for Seniors, Business Wire, December 30, 2015.