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October 2, 2017      11:40 AM

Orr: Texas Acts to Prevent Elder Financial Abuse

President of the National Association of Insurance and Financial Advisors, Texas says financial advisors are happy to now be a first line of defense when scammers target the elderly

We think it will never happen to our parents or us. Yet, it happens every single day.

Financial sharks and scammers prey on the elderly to the tune of about $36.5 billion a year.

Fortunately, with the leadership of Rep. Tan Parker (Flower Mound) and Sen. Kelly Hancock (North Richland Hills), the Elder Financial Protection Law effect on September 1. It provides new teeth for combatting financial scams and abuse. It enables others, including financial advisors, to step forward to protect seniors when they see something is amiss.

The full op-ed by Joseph Orr, II is in the R&D Department.

By Joseph Orr, II

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