Resources For Fraud

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

M 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, the trusted person, and law enforcement if necessary. Financial exploitation is less likely then.

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 to go where they want them to go.