10 retirement risks facing your clients
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Financial abuse risk
The possibility that an adviser, family member or stranger might prey on the frailty of the client, recommend unwise strategies or investments, or embezzle assets.
“Working with a trusted financial adviser can provide an important line of defense in spotting and reporting financial abuse. Advisers are often in the best position to monitor financial activity and patterns; identify suspicious or uncharacteristic spending, withdrawals and investing; and are often familiar with the various relationships in a client’s life.”
— Robin Traxler, senior vice president, Financial Services Institute