What to Do When Your Elderly Parent’s “Friend” Provides Investment Advice

Those who want to wrongfully take money from your elderly parents often pose as trusted and dependable friends who only want what is best for your parents. They depend on your parents being lonely and trusting. They take advantage of the elderly by providing what they call "investment advice," but what is in reality the outline of a money making scam.

Protecting Your Parent

As the adult child of an elderly parent, it can be concerning when your parent tells you that a new friend has provided investment advice. Accordingly, in order to protect your parents' financial well being, it is important to:

Know your parents' routine and friends. It is important to know who your parents regularly hang around with and what they typically do. If your parent starts going to places substantially more expensive than usual or has a new friend who is talking about financial information, then you might want to find out more information.
Understand what you are up against. Fraudsters are often skilled at what they are doing. They know how to gain your parents trust and convince them to invest in their scam. It is important to take the threat seriously.
Advise your parents not to make any financial commitments without talking to you or a trusted financial advisor whom they've used in the past. It is possible that you or a trusted financial advisor will be able to recognize a scam and help protect your parent before a scam costs them dearly.
Call a Columbus investment fraud attorney. If you think that your parent has already been scammed, then it is important for you or your parent to contact a Columbus investment fraud lawyer as soon as possible to discuss your rights and potential recovery.

Know Which Ohio Investment Fraud Attorney to Call

The experienced Ohio investment fraud lawyers of the law firm of Meyer Wilson have helped more than 800 victims of financial fraud recover damages. We are committed to helping victims protect their legal rights and right the wrongs which have been done to them.

For more information, we invite you to contact one of our Columbus investment fraud attorneys today at 614-224-6000 for a free consultation and read our FREE book: Five Signs of Investment Fraud... And What to do if it's Happened to You.