AARP, the American Association of Retired Persons, has expanded its BankSafe online training platform to include financial advisors. The platform, which had previously been limited to bank and credit union staff, provides participants with the knowledge and skills to better interact with older clients, identify red flags of financial exploitation and take steps to prevent financial exploitation.
The Securities Industry and Financial Markets Association (SIFMA), the National Association of Personal Financial Advisors (NAPFA) and the National Association of Insurance and Financial Advisors (NAIFA) have signed on as founding distributors for the free training platform.
These organizations, which collectively represent more than 300,000 financial advisors, are working with AARP to encourage their members to complete the training.
“Financial advisors are often some of the first people to spot financial exploitation,” said Kevin Mayeux, CEO of NAIFA, in a statement. “The BankSafe training provides them with everything they need to identify potential exploitation and take the right steps to stop it.”
Ken Bentsen, president and CEO of the Securities Industry and Financial Markets Association, said BankSafe will be available to all the trade group’s broker-dealer members “as they work to help protect their aging client base,” which is “a top, long-term priority” for the organization.
“Working together with the financial services industry, we know this program will help protect millions of older adults from exploitation,” said AARP’s BankSafe National Director Jilenne Gunther in a statement.