New resources for fraud

I’m Miriam Neff, and I’m Valerie Neff Hogan, with Wise Women Managing Money

M  As of February 2018, the Financial Industry Regulatory Authority  requires brokerages to ask clients for the name of a trusted individual who can be reached in case a client appears to be a victim of financial exploitation.

V They can delay disbursement from accounts of those over 65 and younger vulnerable people for up to 15 days, giving firms time to contact the client, their trusted person, and law enforcement if necessary. Financial exploitation is less likely. This trusted person need not be family, simply trustworthy.

M Yes it’s unfortunate that this is necessary.  However, thankfully this tool can help us ensure that people we love can direct their resources go where they want them to go.