Financial Exploitation of The Elderly
This session, originally from FPA Annual Conference 2018, will help participants learn of the new federal and state regulatory schemes, which require financial planners to serve as the frontline defense against financial exploitation of the elderly and other protected persons. After a review of the new regulations, a comprehensive plan will be suggested to achieve regulatory compliance and allow for the best chance of a successful incompetency planning and transition of assets to the next generation. Estate planning and client retention issues, along with practical guidance on dealing with these delicate issues on an ongoing basis, will be addressed.
- Identify the warning signs that a client is experiencing financial abuse
- Understand the complexity of handling an actual case involving elder financial abuse
- Recall the recent regulations established by Finra and the Safe Senior Act of 2017 to reduce elder financial abuse
Robert B. Mauterstock, Jr., CFP®, CLU®, CLTC®
Partner and Co-Founder, Plan4LifeNow
Robert B. Mauterstock Jr., CFP®, CLU®, ChFC®, CLTC®, is partner and co-founder of Plan4Life LLC, the creator of The Elder Planning Specialist program, an extensive curriculum for financial planning professionals. He is a former Navy pilot and has written four books related to boomers, their aging parents, and their adult children. He was a practicing financial planner for more than 30 years.
John Renner, LL.M., JD, CFP®, ChFC
John F. Renner is an attorney and financial planner. He maintains a diverse practice of law including estate planning and estate administration as well as litigation in both state and federal courts. He also holds the Series 7 and 66 licenses. His presentation is based upon the cover article for the January 2018 Journal of Financial Planning titled: "Someone to Watch over Me: Understanding the notification responsibilities of financial planners to prevent financial exploitation." Mr. Renner also teaches Estate Planning at the University of South Florida as an Adjunct Finance Professor.