This year for WEAAD, the New York City Elder Abuse Center (NYCEAC) will be sharing resources for elder justice professionals daily for 16 days, in a campaign called 16 for 2016 – which you can find on Twitter at #16for2016 or on our Facebook page starting on May 31, 2016. More →
| AARP’s Public Policy Institute today released a new research report focusing on older investors with diminished capacity—and how financial services professionals can best meet their needs.
Increasingly, older people are responsible for their own retirement security in an era of defined contribution plans and other forms of “do-it-yourself” retirement. Financial capacity is the first kind of decision-making capacity to decline with the onset of dementia and other causes of cognitive impairment. Are financial services industries prepared for the age boom and increased incidence of diminished capacity?
This report includes extensive background information on diminished financial capacity, the risk of financial exploitation, and the financial professionals who serve older clients. It shares results of a national survey of financial professionals and an interdisciplinary roundtable about current practices, protocols and needs—and makes recommendations for federal and state policy-makers, industry, aging organizations and other stakeholders. Click here for the report.
Feel free to contact the author:
Naomi Karp, JD
Senior Strategic Policy Advisor | Consumer & State Affairs Team