Red Flags for Client Well-Being

When should a trusted advisor start to worry?

This information is compliments of Shorkend Care Management

Advisors are used to clients being independent and competent  What signs should you look for that may suggest that they are in need of more assistance and guidance?

Any change in regular behavior

  • Changes in hygiene or appearance
  • Poor judgment
  • Depression or anxiety
  • Allowing another person to speak for them or make decisions for them
  • Short term memory loss, disorientation
  • Falls, wandering, car accidents
  • Weight loss, modes swings

Any change in regular habits

  • Friends or neighbors notice changes
  • Unable to manage daily activities
  • Home is unclean, unsafe or cluttered
  • Unpaid bills, change in spending patterns

Possible signs o financial fraud or abuse

  • A new “best friend” and isolation or alienation from family members and professionals
  • Unexplained change in advisors – attorney, CPA, financial advisor
  • Change in bank accounts or unexplained asset and property transfers
  • Scams: Greendot cards, wire transfers, cash withdrawals

Before you jump to conclusions – is there a reasonable explanation for the changes such as:

  • an acute medical issue
  • grief or loss

What to do

  • Speak to a family member or consult with other trusted advisors on your client’s team (if you have the authorization to do so)
  • Suggest a meeting with the client’s team or family
  • Suggest an appointment with their primary care physician
  • Suggest a consultation with an Aging Life Care ManagerTM/Geriatric Care Manager

Speak with your Chief Compliance Officer regarding any compliance/privacy issues before discussing a client with anyone else prior to receiving their approval to do so.

 

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