Investment Advisors – Having Your Client Agree To A Designated Helper For The Advisor To Contact

I have provided below a link to a discussion and a service by Carolyn Rosenblatt for investment advisors in situations where the mental capacity of an elder client might be questioned, and in situations of possible undue influence or elder abuse. As you might know, investment advisors have been encouraged to enact policies and processes for these situations. There might be additional legislation in this area later this year, or at least legislation relating to advisor fiduciary duty. Please click on the below link, and then also click on the additional link at the bottom of that page to view the 10 step video. These policies and processes are good ideas and are needed – and they might arguably also already be legally required under standard of care, prudent due diligence, and elder abuse reporting requirements.

As I have previously posted, however, the designated helper also will need to know an attorney that she or he can contact to remedy the situation through the court system. Reporting to adult protective services or the police in appropriate situations might or might not provide emergency relief, but APS and the police do not have the people, time, and expertise resources to pursue a case through the legal system. And here is a link to my elder abuse and protection presentation slides

Here is the link to Carolyn’s discussion

The Confidentiality Conundrum: Can You Call A Third Party When Your Client Shows Signs Of Dementia?

Thanks. Dave Tate, Esq., San Francisco and California