Protecting Seniors from Financial Abuse

The MoneySaver Podcast

In the 18th edition of The MoneySaver Podcast, we talk to elder law specialist Laura Tamblyn Watts on how to protect seniors from financial abuse, including scams and advice on aging gracefully.

Questions Asked:

1:20 Tell us about a report that you did about vulnerable investors. Who are they? How should they be protected?

3:45 One of your key recommendations was for a financial advisor to have the name of a trusted contact to work with them in the event of the client being under undue influence or are not capable of making responsible decisions. Tell us about that.

5:30 In your work, do you see a lot of people who are subject to abuse by family members or strangers or are being taken advantage of?

11:25 How do you get the banking industry to at least flash some concerns to help protect vulnerable citizens?

17:20 How do you reach older adults who aren’t great candidates for online education since many government services aren’t publishing in paper any longer?

25:50 Do you think that it’s difficult to get this kind of protective campaign accepted by a government if it’s run by much more laissez faire-type individuals?

30:19 Give us some of the stats on seniors in Canada and the growing influence of older people on the population.

32:42 What are your three best tips around senior protection?