Consumer agency urges standards for financial advisors to seniors

Source: Jim Puzzanghera - The L.A. Times

Older Americans can be confused by dozens of special designations for financial advisors for seniors, and government officials should set strict standards for training and conduct to prevent abuses, according to a new federal report.

The ranks of the elderly are projected grow to 70 million by 2030 from 50 million now, and their savings can be an attractive target for people peddling financial products, the Consumer Financial Protection Bureau said.

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