Category: Financial Exploitation

ATTORNEY NEWSLETTER FINRA Probes Compliance With Elder Abuse Rules The Financial Industry Regulatory Authority (FINRA) has announced it will soon start investigating broker compliance with new rules meant to protect elderly clients from financial elder abuse.[1]  The rules allow broker-dealers to place a hold on elderly clients’ account disbursements if they have […]

ATTORNEY NEWSLETTER What are Riders? Riders are attachments to deferred annuities sold by agents as enhanced benefits. They come with an additional fee added to your base premium. Available riders include income riders, long-term care riders, death benefit riders and other policy “enhancements.”  All of these add-ons are expensive and […]

ATTORNEY NEWSLETTER Guggenheim Partners/Security Benefit Life Insurance Company Total Value Annuities (TVAs) The life insurance and annuity attorneys at Evans Law Firm, Inc. represent clients who have suffered losses on all types of life insurance and annuity contracts, including indexed annuities. Indexed annuities are hybrid annuities that offer both a […]

ATTORNEY NEWSLETTER FINRA Levies Big Fines in 2018 for Sales of Unsuitable Annuities and Other Misconduct The Financial Industry Regulatory Authority (FINRA) polices financial advisor fraud including recommendations of unsuitable annuities. The agency detected a disturbing trend of sales to consumers, including seniors, of unsuitable products and “largely unsupervised” inappropriate […]

ATTORNEY NEWSLETTER Financial Elder Abuse on the Rise in San Francisco Law Enforcement Only Investigates a Fraction of the Cases Cases of elder and dependent adult abuse in the City jumped 18 percent in 2017, according to a report released Tuesday by the Family Violence Council in San Francisco. While […]

ATTORNEY NEWSLETTER Financial Exploitation of Seniors Law Enforcement Nabs Abusers Preying on the Elderly Financial exploitation of the elderly comes in different shapes and sizes. Last week, local law enforcement apprehended two suspects alleged to have extorted more than $180,000 from members of San Francisco’s Chinese community in the final […]

ATTORNEY NEWSLETTER Financial Powers of Attorney and the Elderly A financial Power of Attorney (POA) is a very important legal document where the principal authorizes an agent to act on the principal’s behalf in business transactions and more.[1] Someone with a financial Power of Attorney has legal authority to transfer […]

ATTORNEY NEWSLETTER How Insurance Agents Can Financially Exploit Seniors Unscrupulous insurance agents can really wreak havoc on a senior’s finances. Agent misconduct ranges from outright theft to more subtle forms of exploitation such as selling unsuitable life insurance and annuity policies or churning a senior’s existing policies into new ones […]

ATTORNEY NEWSLETTER Seniors: Watch Out for Fraud by Financial Advisors, Insurance Agents, and Stock Brokers If You’re a Victim, We Can Help Unscrupulous insurance agents, financial and investment advisors, retirement planners, and stock brokers prey on seniors in particular. After all, seniors hold 1/3 of the nation’s wealth. Seniors may […]

ATTORNEY NEWSLETTER Beware the Hard-Sell Free Lunch High Pressure Sales Seminars Have you ever come back to your car at a shopping mall and found a free lunch flier on your windshield? Or maybe a invitation by mail to a free dinner seminar?  Some insurance agents are notorious for relying […]