Coping with Senior Clients’ Risk Tolerance

Originally published in the National Post (August 2008)

Older clients seem to be at the heart of most litigation and regulatory risk in my practice these days. Senior clients launch complaints with the MFDA, IDA and securities commissions and sue their advisors in court, asserting that investments were unsuitable, using their oft-used mantra:

“We are unsophisticated and unable to understand the investments in our accounts.”

How can advisors protect themselves from the regulatory and litigation risk associated with the very clients who are reported to be the wealthiest segment of our population, i. e. advisors’ target market?

pull text from http://www.casselsbrock.com/docs%5CCoping_with_Senior_Clients_Risk_Tolerance.pdf



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