Senior citizens have worked hard to build a lifetime’s worth of savings. Consequently, stockbrokers and financial advisors often target them for “free” investment seminars in hopes of obtaining new business relationships. Many so-called “senior advisors” use misleading professional designations to engender trust. In reality, they are just interested in selling seniors a product that either carries a high commission, such as variable and equity index annuities, or is a high-risk investment that puts the senior’s nest egg at risk.
In fact, a recent survey of state securities regulators conducted by the North American Securities Administrators Association shows that senior citizens make an estimated 44 percent of all investor-related complaints, up from 28 percent in 2005. The same study also revealed that variable and equity index annuities were involved in 48 percent of cases of senior financial exploitation reported to state securities regulators.
Senior investment fraud is a serious ongoing problem that is growing year by year.
Page Perry is an Atlanta-based law firm with over 125 years collective experience representing investors in securities related litigation and arbitration. While past results are not indicative of future success, Page Perry’s attorneys have recovered over $1,000,000 for clients on more than 30 occasions. Page Perry has successfully represented investors against brokers and their firms for causes of action based on elder abuse. For further information, please contact us.