Financial Advisor

Roughly 10,000 baby boomers will turn 65 each day for the next 12 years. With such numbers, it should be no surprise that financial exploitation costs “seniors”—generally defined as those who are 65 and older—at least $2.9 billion annually. In an effort “to showcase the urgency of preventing senior financial exploitation,” the North American Securities Administrators Association (NASAA), an association of state securities regulators, recently polled regulators from all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Canada and Mexico and published the results in a survey titled “Seniors and Financial Exploitation.”

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