3 Critical Steps to Protect Your Elderly Parents’ Finances

Financial expert Andy Smith, shares tips about how to protect your elderly parents’ finances and estate. Smith is a Certified Financial Planner® practitioner and host of The Mutual Fund Store’s radio talk show which airs in over 70 markets across the U.S3 Critical Steps to Protect Your Elderly Parents’ FinancesSmith’s advice on caring for elderly parents’ finances is clear, concise and to the point: make sure your parents always work with a fiduciary, build relationships with the professionals that your parents rely on, and ensure that they have a will with up-to-date beneficiaries.It is also important to understand that:1. Not All Financial Professionals Are Created EqualMany people assume that brokers, bankers and other types of financial professionals must put client interests first. This is often the case, but not always. According to Smith, there are important differences between a fiduciary like a Certified Financial Planner® (CFP®) professional and a financial broker.Most brokers are only bound…


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