Pro Bono Opportunity: Help Prevent Financial Elder Abuse

CFP® Certificants in the News

According to, “Financial fraud is the fastest-growing form of elder abuse. Broadly defined, financial elder abuse is when someone illegally or improperly uses a vulnerable senior's money or other property. Most states now have laws that make elder financial abuse a crime and provide ways to help the senior and punish the scammer.”

Financial fraud against seniors continues to rise at an alarming rate. For example, seniors reported financial losses of over $3 billion for the last year reported, a meteoric jump of almost 50% over the previous year. Tragically, the actual losses are suspected to be higher, potentially much higher. Why? Seniors are more reluctant to report fraud than younger age cohorts. In a particularly loathsome scam, lonely seniors turning to dating websites are increasingly vulnerable to what is being called “romance scams.”

These appalling trends offer an opportunity for CFP® certificants to help. CFP Board’s April newsletter explains the opportunity as follows—“The Foundation for Financial Planning and AARP are seeking CFP® professionals to serve as pro bono volunteers, helping to answer seniors’ questions related to Social Security and other financial issues through virtual and phone engagements. This volunteer commitment will require approximately two to four hours, including training, and will take place in late May to early June.”

Concerned CFP® CFP Professionals can learn more about this volunteer opportunity at Pro Bono Planner Match.”