We represent elderly investors who suffered investment-related losses as a result of financial institutions or investment professionals who take advantage of their elderly clientele. Historically, a substantial number of attorney Alan Rosca’s clients have been senior citizens who suffered losses at the hand of their brokerage firm or investment advisor. Attorney Rosca has expensive experience working with senior citizens and, often times, their family members.
Unfortunately, the scope of elder abuse has expanded to the financial realm. Elderly investors are often vulnerable to fraud scams and financial schemes. Unscrupulous brokers prey on senior citizens’ trust in financial advisors and the marketplace.
Elderly investors often then compound the problem by trying to save face and many times are often too embarrassed to admit to their children or grandchildren when they have been taken advantage of or defrauded. This makes it harder for their younger family members to help them seek legal assistance.
The elderly often live alone or in secluded environments and many suffer from physical or mental disabilities which heightens their status as chief targets for scammers, scheme dealers, and corrupt and unethical brokers. To make matters worse financial elder abuse is often camouflaged and hard to recognize or detect because the abusers have honed their skills and become so well versed in their illicit craft. Often such brokers befriend their prey, try to confuse them, or make a pitch that they have their “best interest” at heart.
Some brokers may have had an existing relationship with the customer already, or perhaps had a mutual friend in common which helped to establish initial trust and confidence. Other brokers will make contact with the elderly via telemarketing or boiler room tactics. Many financial advisors or brokers targeting the elderly may even work for reputable companies, while others may work for a smaller firms not properly supervising their brokers.
If you believe you or a loved one may have lost money as a result of elder abuse from a broker or financial advisor, please contact us for a free, no-obligation consultation regarding your legal situation and potential recovery options, by phone at 888-998- 0530, via email at firstname.lastname@example.org, or through the contact form on this page.