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types of abuse include physical , psychological and emotional, sexual,
neglect and abandonment. Victims of any of these types of abuse should
consider contacting the Adult Protective Services office in the city or
county where you reside.
abuse can also involve financial abuse or financial exploitation, for
example the illegal or unauthorized use of a person's money or
valuables. It can also include being deceived and or coerced by a
financial advisor or stockbroker.
The basis of all forms of Elder Abuse stems from the
expectation of trust
the older person has for the abuser. In the case of nursing home Elder
Abuse, it is the trust the older person places in the nursing home
staff. In cases involving financial Elder Abuse, it is the trust the
older person places in their trusted adviser or stock broker.
the overwhelming majority of financial advisers and stockbrokers are
honest and do their very best to take care of their clients, we can tell
you from experience that there exists a small percentage who will take
advantage of the elderly by trading their account in a manner that
benefits the broker/advisor, and his firm at the expense of the trusting
elderly account holder.
abuse can range from over-trading the account or selling high risk high
commission products like REITs, private placements and limited
partnerships, to outright theft .
AARP suggests you think twice if you hear words like this from your broker:
¿ "Your profit is guaranteed."
¿ "It's an amazingly high rate of return."
¿ "There's no risk."
¿ "You can get in on the ground floor."
¿ "This offer is only available today."
¿ "It's a secret investment tip just for you."
¿ "I'll get you the paperwork later."
¿ "Just make your check out to me."
you believe you are the victim of elder financial abuse, you need to
consult with an attorney experienced in pursuing losses from
stockbrokers and brokerage firms. It is likely that you may be able to
recover all or a part of your losses through FINRA arbitration.
We have been helping investors recover stock market losses for 25 years. No charge for initial consultation.