Do you know the warning signs of elder financial abuse?

Did you know that persons over the age of 50 control over 70% of the nation’s wealth?1 It’s no wonder that elder financial abuse is a growing concern in the financial industry. Unfortunately, many times the perpetrators aren’t who you might expect them to be. They may be family, friends, neighbors or care-givers — the people that the elderly might trust the most.

Some of the signs of elder financial abuse include:

  • Unusual activity in your clients financial accounts
  • Large purchases and/or an unusual increase in credit card debt, with explanations of these increases that don’t seem to make sense
  • Isolation from friends and family by a new “best friend”
  • Sudden, unexplained changes to a will or trust
  • Closing accounts without regard to penalties and/or fees
  • Signatures on checks or other financial documents that don’t appear to be legitimate

As their agent, you have a responsibility to watch for the warning signs and take action if you suspect that your client might be, or has been, a victim of financial abuse.

For more information on what to do if you suspect elder financial abuse, check out the article below from the AARP or contact us at


For Financial Professional Use Only – Not For Use With The General Public.