| Last week, the Financial Industry Regulatory Authority censured and fined J.P. Morgan Securities $200,000 for failing to reasonably supervise Evan Schottenstein when the former registered representative made a series of unsuitable trades in the account of his widowed, 88-year-old grandmother.
The decision shined a spotlight on the unending plague of financial elder abuse, an epidemic estimated to have cost victims at least $2.9 billion last year alone, according to the American Bankers Association.
The fact that Schottenstein victimized his own grandmother illustrates how the elderly need to be always on guard, even from those that — supposedly — love and care for them the most. The AARP Foundation reports that roughly two-thirds of the abusers are family…
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What to Know About Buy-Sell Agreements – Post Connelly