Recommended
Recommended
More Related Content
Recently uploaded
Recently uploaded (20)
Featured
Featured (20)
Financial Advisor Checklist – diminished capacity
- 1. FINANCIAL ADVISOR CHECKLIST – DIMINISHED CAPACITY “RED FLAGS” • WHEN WORKING WITH AN OLDER INVESTOR, CONSIDER WHEN THE CLIENT APPEARS: • UNABLE TO PROCESS SIMPLE CONCEPTS • TO HAVE MEMORY LOSS • TO HAVE DIFFICULTY SPEAKING OR COMMUNICATING • UNABLE TO APPRECIATE THE CONSEQUENCES OF DECISIONS • TO HAVE ERRATIC BEHAVIOR • TO BE DISORIENTED WITH SURROUNDINGS OR SOCIAL SETTING • UNCHARACTERISTICALLY UNKEMPT OR FORGETFUL • TO BE CONCERNED OR CONFUSED ABOUT MISSING FUNDS IN HIS/HER ACCOUNT WHILE REVIEWS INDICATE THERE WERE NO UNAUTHORIZED MONEY MOVEMENTS • TO LACK AWARENESS OR UNDERSTANDING OF RECENT FINANCIAL TRANSACTIONS • TO MAKE DECISIONS THAT ARE INCONSISTENT WITH HIS/HER LONG TERM GOALS OR COMMITMENTS • TO REJECT APPROPRIATE INVESTMENT ADVICE THAT IS CONSISTENT WITH INVESTMENT OBJECTIVES © 2015 Timothy Keeton
Editor's Notes
- Here is a consolidated list of considerations when working with senior investors. You may want to create a checklist to use routinely when meeting with the client. This will document changes over time: Client appears unable to process simple concepts. Client appears to have memory loss. Client appears to have difficulty speaking or communicating. Client appears unable to appreciate the consequences of decisions. Client appears to have erratic behavior. Client appears to be disoriented with surroundings or social setting. Client appears uncharacteristically unkempt or forgetful. Client appears to be concerned or confused about missing funds in his/her account while reviews indicate there were no unauthorized money movements. Client appears to lack awareness or understanding of recent financial transactions. Client appears to make decisions that are inconsistent with his/her long term goals or commitments. Client appears to reject appropriate investment advice that is consistent with investment objectives.