As the U.S. population ages, the financial abuse of seniors and vulnerable adults has become an increasingly important issue. To help protect older clients, sales and service professionals must be alert to any signs of potential financial exploitation and respond in an effective and compliant manner.
RFE is the most recent addition to LIMRA’s Compliance Education Platform. It provides an overview of financial exploitation, including the regulatory environment, red flags, and steps that sales and service professionals can take to help protect seniors and other vulnerable clients. RFEclearly explains the new FINRA Rule 2165, Financial Exploitation of Specified Adults, and the NASAA model rule that is being adopted by many states.