BOSTON – Fidelity Investments is offering resources to what it calls a growing problem of financial abuse among elders.
The wealth management firm says financial abuse of elders – defined as using a senior’s money for one’s personal benefit – results in the loss of $36.5 billion each year.
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“Raising awareness of this problem is an important step toward prevention and the protection of loved ones,” the company said in a press release.
Fidelity created a video designed to educate individuals, which includes information about who might be at risk, what steps can be taken to protect family members and warning signs that could raise red flags, including:
- Changes in behavior: This may include shifts in spending patterns, excessive withdrawals, or trouble paying bills.
- Lack or deprivation of basic needs: This could include a lack of such basics as food, water or medicine.
- Signs of intimidation: A loved one may appear controlled or tend to let someone speak for them. Another sign: Avoiding eye contact when asked questions.
The video and more details can be found HERE.
