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April 20, 2017 at 08:51 AM
The Financial Industry Regulatory Authority’s Securities Helpline for Seniors marked Thursday its two-year anniversary with $4.3 million in voluntary reimbursements to callers since its launch.
To date, the helpline has fielded more than 9,200 calls from all 50 states, with individuals ranging in age from 17 to 102 (with the average age of callers being 70).
Callers have dialed-in to get questions answered on topics ranging from financial services-related products, including variable annuities, mutual funds and real estate investment trusts, to tips on how to review an investment account statement and access investor tools and resources such as BrokerCheck.
Other requests have asked for help with lost securities, as well as voiced concerns about potential unsuitable recommendations, fraud, or illegal activity involving brokerage accounts and investments. Incidents of exploitation of seniors by persons outside of the securities industry have also been reported.
