The Elderly and Investor Protection

It's long been known that seniors are especially vulnerable to the financially devastating impact of
adviser abuse, frauds and scams, and there are several reasons for this. A recent study by a researcher
from the U.S. Federal Reserve and a professor at the University of Texas is a recent of many to suggest
that one reason is the declining mental faculties of senior investors, which negatively impacts their
personal financial management. Korniotis, George M. and Kumar, Alok, "Does Investment Skill
Decline Due to Cognitive Aging or Improve With Experience?" (July 2007). Available at SSRN:
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=767125 Physical acuity, emotional
issues or dementia increase vulnerability. A half-million Canadians currently suffer from some form of
dementia, a figure the Alzheimer’s Society of Canada expects to reach 1.1 million within a generation.

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