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Senior Investors: Unique Needs and Firm Considerations

SKU: FR2300
Total Credits
  • Online Access
  • Smartphone
  • iPad/iPod/Tablets
  • CDs/DVDs


This CLE program provides guidance on identifying and responding to issues and concerns of your clients who are or will soon be seniors. There are in excess of 5 million Americans suffering from dementia today with an additional diagnosis occurring every 67 seconds. On average, every advisor has approximately 7 clients with Alzheimer's. If not planned for properly, the negative financial affect can be staggering. In this session attendees will learns the signs to look for, the questions to ask and the steps to take in helping your clients understand the potential implications they may face. Panelists will share red flags for elder abuse and procedures their firms have implements if abuse is suspected. In addition, panelists will discuss lessons learned from the helpline and FINRA Rule 2165.

After attending this session, you will be able to:

  • Identify issues relevant to senior investors.
  • Understand some key best practices when handling calls from seniors with concerns or questions about their account.
  • Obtain insight into the issues that accompany a client with a diminished capacity and/or who is experiencing elder abuse.
  • Gain a general understanding of state mandatory reporting of elder abuse.
  • Learn the difference between dementia and Alzheimer's disease.
  • Protect your practice under FINRA regulations regarding diminished capacity and vulnerable clients.
  • Establish a plan for when a client is diagnosed.

FINRA® is a registered trademark of the Financial Industry Regulatory Authority, Inc.

Lecturer Bios

Jeffrey M. Pasquerella, Esq.

Jeffrey M. Pasquerella is Vice President and Regional Director of FINRA’s South Region and the District Office located in Boca Raton. He has been employed by FINRA since August of 1999. Prior to joining FINRA, Mr. Pasquerella served as an assistant district attorney in the Westchester County District Attorney’s Office for three years. He is a 1993 graduate of Villanova University, Villanova, Pennsylvania, and a 1996 graduate of Pace University School of Law, White Plains, New York. Mr. Pasquerella is a member of the New York and Connecticut State Bars.

Peg Horan, LMSW

Peg Horan, LMSW is the Elder Abuse Prevention Specialist and Multidisciplinary Team (MDT) Coordinator for the New York City Elder Abuse Center (NYCEAC). She coordinates its MDTs in Manhattan and Brooklyn, consults on elder abuse cases with government and community-based agencies, and trains on elder abuse identification and intervention. Previously, she worked in the Domestic Violence Bureau of the Kings County District Attorney’s Office (Brooklyn), where she ran its flagship program for people with disabilities who were physically or sexually assaulted. Later, as the D.A.’s Elder Abuse Unit Coordinator, Ms. Horan worked with older adults who were assaulted, abused, threatened and financially exploited by someone they knew or trusted. Ms. Horan also worked at YAI/National Institute for People with Disabilities, where she was a field social worker for people with Intellectual/Developmental Disabilities in the Bronx and Manhattan. Ms. Horan received an M.S. from the Columbia University School of Social Work in 1998. She is an accredited field instructor for social work students.

Nancy J. Needell, M.D.

Dr. Nancy Needell is Assistant Clinical Professor of Psychiatry at Weill Cornell School of Medicine in New York. Currently, she is the Medical Director of the New York-Presbyterian Hospital- Weill Cornell Mobile Crisis Team, which goes out into the community to evaluate people at risk for harm to themselves or others. This team has a special interest in working with elderly people, many of whom are victims or potential victims of elder abuse. Dr. Needell is also a member of the Manhattan Enhanced Multi-disciplinary Team, which brings together leaders in the legal, medical, social service, and financial world to troubleshoot complicated financial elder abuse cases. Additionally, Dr. Needell maintains an active private forensic psychiatry consulting practice, where she performs psychiatric evaluations on people in the criminal and civil legal system on issues ranging from need for guardianship to legal “insanity.” Dr. Needell received a BA from Colgate University and a Master’s degree in Journalism from Columbia University before entering the family business of medicine and getting an MD from Drexel University. She did her residency in general psychiatry at Cornell University, where she also completed fellowships in forensic and geriatric psychiatry.

Mary Shea Tucker, Esq.

Mary Shea Tucker is Manager of the Elder Client Initiatives (ECI) Team, within the Wells Fargo Advisors Compliance Department. The ECI Team, which includes paralegals, operations specialists and a Master of Social Work graduate, provides guidance and support to Financial Advisors and Supervisors in situations where there may be concerns about client incapacity and/or elder/vulnerable adult abuse. The ECI Team also is responsible to make reports of suspected elder/vulnerable adult abuse to adult protective services agencies, securities commissioners and law enforcement in all 50 states and U.S. Territories. Ms. Tucker has been with Wells Fargo for almost 12 years. She was a member of the Law Department for the first 10 years, where she advised on technology contracting, client account/branch support issues and operational procedure. Prior to that, she served as senior associate general counsel for the University of Utah and also as associate general counsel for the Salt Lake City 2002 Olympic Winter Games. Ms. Tucker is a newly appointed member of the National Committee for the Prevention of Elder Abuse board of directors. She is admitted to practice law by New York, Utah and Missouri. She received a B.A. in English from Yale and a J.D. from New York University School of Law.

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