From the community

Governor and Office of Securities Join ‘National Call-In Day’ to Highlight Elder Financial/Investment Abuse

Posted Nov. 08, 2011, at 3:14 p.m.

November 10th Event to Provide Confidential Assistance

and Resources to Seniors and Caregivers

AUGUSTA, Maine – Governor Paul R. LePage and Maine Securities Administrator Judith M. Shaw announced that the state’s Office of Securities is joining a ‘National Call-In Day’ effort to highlight elder financial abuse on Thursday, November 10th.

The concerted nation-wide effort is aimed at encouraging seniors, as well as their advocates and caregivers, to report cases of possible financial/investment exploitation, or to simply ask questions and receive guidance & resources.

“As we seek to improve the economy and strengthen the financial security of Maine families, it’s important to help our seniors safeguard the assets they’ve acquired during a lifetime of hard work,” Governor LePage commented. “Estimates indicate that one out of every five citizens over the age of 65 has been victimized by a financial scam. That must change, and it begins by encouraging more reporting of problems and concerns by seniors or their caregivers on November 10th.”

Securities Administrator Shaw noted that seniors with mild cognitive impairment (MCI) are among the most vulnerable. “These individuals can perform most daily functions, but have trouble when it comes to managing their finances. We urge them to come forward to report possible exploitation or to receive free resources.”

The toll-free number for Maine residents to call November 10th, from 9:00 a.m. – 5:00 p.m., is 1-877-624-8551.

National Call-In Day is a collaboration with the Investor Protection Trust (IPT), the National Adult Protective Services Association (NAPSA), the Financial Planning Association (FPA), and Baylor College of Medicine. Kiplinger’s Personal Finance is also a partner in the November 10th hotline project. More information about the event is available on the Office of Securities’ website at www.investors.maine.gov.

If individuals are more comfortable speaking with someone outside the state, or to obtain additional general information, there will be three separate national call-in lines on November 10th. The toll-free hotlines will address questions and offer free advice in the following key areas:

• General Finance Questions 1-888-227-1776. Callers can dial into this number to speak with an expert from the Financial Planning Association about their family financial security.

• Medical Questions 1-888-303-0430. Callers to this number can get advice from health care professionals about medical issues such as mild cognitive impairment that can impact an older person’s ability to make wise and safe financial decisions and can increase their vulnerability to elder financial abuse and exploitation.

• Financial Abuse Questions 1-888-303-3297. Callers to this number will speak with an adult protective services (APS) professional about elder financial abuse and strategies for keeping themselves or older loved ones independent.

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