Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Tuesday, March 15, 2016

Broker Misconduct Is A Growing Issue With Elderly Clients

AgingA study that was conducted by the University of Chicago and University of Minnesota has revealed some shocking things about broker misconduct. The study called “The Market for Financial Adviser Misconduct” found that broker misconduct is common in counties that have a high concentration wealthy elderly people. The researchers “reviewed disciplinary records over a 10 year period, covering about 640,000 brokers in almost 4000 securities firms, according to an On Wall Street article from March 2, 2016.” This article discusses some of the steps that people can take to research their brokers. There are resources available that people can use to obtain information. It is important to carefully research brokers and financial advisers ahead of time. Sometimes it might not be a bad idea to get a second opinion.

See Carolyn Rosenblatt, What Your Aging Parent’s Broker Isn’t Telling You, Forbes, March 15, 2016.


Elder Law, Estate Planning - Generally, Professional Responsibility | Permalink


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