Tips for advising aging clients

By Staff | November 9, 2012 | Last updated on November 9, 2012
1 min read

As clients get older, they can start to lose their cognitive acuity.

Even worse, they can suffer from dementia-related diseases like Alzheimer’s. Not only will be hard to watch your clients suffer, their conditions could also expose you to possible legal issues if they start to ask about unsuitable investments.

Read: The compromised client

So, if they do start acting out of character, suggests taking four steps to protect your practice. These include:

  • Document your phone calls and discussions with older clients to minimize legal liabilities
  • Ask for an emergency contact when setting up or revising their accounts

Also read:

Managing in the face of incapacity

Diagnosing Alzheimer’s

Assessing the risk of cognitive disorders

Coping with aging clients

Aging client pose challenges

Avoiding estate litigation staff


The staff of have been covering news for financial advisors since 1998.