Check the news in any given week, and you'll likely run across another sad tale of financial fraud. Even the most sophisticated investors can fall prey to it, as the Bernie Madoff saga clearly demonstrates. But you don't have to run in Madoff's circles to encounter financial abuse. For instance, CFP Board's 2012 Senior Financial Exploitation Survey of Certified Financial Planner™ professionals found that:
∎ More than half of respondents (56%) had personally worked with an older client who had been subject to an unfair, deceptive, or abusive practice.
∎ The majority of respondents reported that older Americans are subject to a variety of practices that could violate federal and state laws and regulations, including being offered unsuitable financial products and subject to omission of material facts and misrepresentations about financial products.
This raises some serious concerns. Whom can we trust? Where do we turn for guidance? What red flags can warn us of potential trouble? Richard Cardinal will present the CFP Board's Consumer Guide to Financial Self-Defense. Here you'll find a series of 'red flags," taken from a CFP Board survey where a consumer had been taken advantage of by a financial professional. Seating is limited to so registration is requested and begins June 17.