Elderly Parent Financial Abuse

Are You Worried Your Elderly Parent May Be A Victim of Investment Fraud?

Our Elderly Parent Financial Abuse Lawyers Represent Senior Investors and Their Families

Unfortunately, older retirees continue to be a favorite target of unscrupulous financial professionals and others seeking to take advantage of their retirement accounts or life savings. The health issues, including potential cognitive impairments, that can come with growing older may make elderly investors even more vulnerable to Elderly Parent Financial Abuse.

If you are the child of a senior investor, it might be hard to take the initiative and discuss finances with your mother or father, especially if they come from a generation where talking about money is considered rude or your loved one is someone who is used to being the one in charge and doesn’t like to ask for help. However, if your instinct is telling you that something is amiss with your investments or finances, you may have reason to worry.

Here are A Few Red Flags That May Indicate Elder Investment Fraud

Your loved one has given control or granted access of their finances to someone else, perhaps even a financial professional, and you are worried that they were not in the right frame of mind to make this type of decision.

Your parent appointed this person a beneficiary to their money.

The investment adviser pressured your older loved one to “invest now” or lose out.

The broker placed your family member in high-risk, illiquid investments even though they are inexperienced/conservative investors who wanted to take on low-to-no risk.

Your loved one is paying your financial advisor directly by check or cash.

The financial statements that your parent is receiving seem to include suspect transactions or be incomplete.

Your relative’s broker told them that they could not discuss their finances with anyone.

Your loved one suffers from Alzheimer’s or Dementia and yet they continue to work with a financial professional who guides them in making investment decisions.

Your older relative has suddenly changed their estate planning documents at the advice of a financial professional without involving any trusted family members.

There are unexplained withdrawals from your loved one’s account.

Your parent’s financial advisor is elusive whenever you try to contact them for answers.

At Shepherd Smith Edwards and Kantas (investorlawyers.com) we represent older retirees and their families in recouping losses they have sustained in a Ponzi scam or another type of financial scheme. For over 30 years, our experienced senior investor fraud attorneys have helped elderly retirees, including those suffering from serious health issues, and their families in suing their financial advisors for damages related to broker fraud or misconduct. Unfortunately, elder financial abuse by brokers and investment advisers does happen.

How Can Our Trusted Senior Investor Fraud Help Your Family?

We know how devastating it can be for older investors to become the victim of investment fraud. We know how heartbreaking it can be for loved ones to discover that a parent or another loved one has been taken advantage of especially when they are their most vulnerable.

Our skilled elder investment fraud lawyers can help you determine whether you have grounds for legal action against a financial firm and its registered representative. If there is a reason, and we decide to work together, we may be able to help you sue the broker-dealer for damages involving unsuitable investment recommendations, overconcentration, negligence, misrepresentations and omissions, financial advisor misappropriation, or elder financial abuse.

To schedule your free, no-obligation case consultation, call (800) 259-9010 today.