FINRA Spotlights Resources to Protect Senior Investors from Financial Exploitation

In an Investor Insights article, FINRA highlighted resources to help protect senior investors from financial exploitation.

FINRA offers the following three support services:

• Securities Helpline for Seniors. FINRA offers a free hotline which provides senior investors assistance with brokerage accounts and investments. FINRA stated that senior investors might have "unique concerns that elevate the need for expedited attention with securities brokerage concerns, such as lack of outside income and potential health complications."
• BrokerCheck. FINRA encouraged senior investors to check the disciplinary record of any FINRA-registered financial professional or brokerage firm by using BrokerCheck. FINRA said members of the public use this free service "to conduct tens of millions of reviews of broker or firm records" each year.
• Scam Meter. FINRA's Scam Meter helps senior investors to determine if an investment might be a scam. The service consists of four straightforward online questions and provides guidance on the risk of the investment. As a general matter, FINRA advised senior investors to avoid unsolicited cold calls or text messages to buy investments.