“Diminished capacity creates new investment risk,” by Mary Beth Franklin, InvestmentNews

Quote:  “A new white paper released Tuesday at the annual meeting of the American Society for Aging details how financial advice companies can better support at-risk aging clients. The paper summarizes current demographic realities, the nature of the risks to financial services firms, the regulatory environment and the opportunities for firms seeking to better protect their clients and themselves. It was written by Chris Heye, founder of Whealthcare Solutions Inc., Liz Loewy, co-founder of EverSafe, and Katherine L. Wade. … ‘We recommend that firms view diminished capacity the same way they would perceive any other risk that threats 25% or more of their business,’ the authors of the white paper concluded. ‘Time and money spent protecting clients and preparing them for the day they can no longer safely manage finances on their own is likely to be a valuable investment over time.’”

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

Better yet to go one step further, get ahead of cognitive impairment, and insure clients against the risk and cost of future long-term care.