As clients age, the language we use to discuss financial matters with them is important. Our fiduciary responsibility, always important, may include additional roles, as necessitated by age or family situation. As trusted advisors, understanding the unique social, familial, physical, and cognitive issues seniors face will help in guiding their financial decision-making.
The Senior Safe Act, a consumer protection law passed in 2018, requires advisors to report any exploitation of seniors and exempts advisors of any liability, provided the advisor has had the proper training. This course, designed by financial educator Ilene Slatko, is designed to provide you with the proper training, to include practical guidance for communication that ensures suitable guidance and product recommendations for the senior client, especially those with diminished cognitive capacity. You will also learn steps you can use to ethically serve seniors and protect yourself. And you will be educated on the regulators’ (Finra and SEC) stance on serving seniors.
Whether you are a financial or an accounting professional, this 2-hour program will inform and instruct you regarding ethical communications and your senior clients.
Learning Objectives:
- Demonstrate an understanding of the communication styles and language suitable for senior clients and how to tailor presentations to them
- Describe the social, familial, physical, and cognitive changes that occur as people age
- Recognize the decision-making process seniors use to select financial professionals and the traits they seek in advisors
- Recognize the signs of diminished cognitive capacity and elder financial abuse
- Identify the specific steps professionals can take to provide ethical service to clients and to protect themselves from potential liability
*CE/CPE Eligible: 2 CE credits are available to subscribers with these designations: CFP, CLU, ChFC and RICP. CPA subscribers will earn 2 CPE credits.
Field of Study: Specialized Knowledge
Prerequisites: There are no prerequisites for this session.
Advanced Preparation: None
Program Level: Basic
Delivery Method: Group Internet Based
NASBA Approved
Financial Experts Network (Sponsor Id#: 145173) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.