Granny & Clyde; Seniors Scamming Seniors
Many financial planners who got into the business during the bull market of the early 1980s are senior citizens themselves now. With their own wealth ravaged by the bear market of the past decade, many of these people can no longer afford to retire. That, say regulators, may be prompting some older financial advisers to engage in riskier and less ethical behavior. Here’s the WSJ article on this sad development:
http://online.wsj.com/article/SB10001424052748704098304576021600313140180.html?KEYWORDS=seniors+scam
