Older Canadians are frequently targeted by financial scams and abuse—senior financial abuse is the most prevalent form of elder mistreatment. Factors such as confusion, social isolation, diminished capacity, or lack of financial literacy make seniors particularly vulnerable. Financial exploitation can be difficult to detect as it often occurs gradually rather than as a single event.

Given that senior fraud affects all financial products, this course is relevant for all licensed advisors, including Life, A&S, Adjusters, and General.

Learning Outcomes for Financial Advisors

Financial exploitation is the most common type of elder abuse in Canada. Unfortunately, the perpetrators are often family members, close friends, or even trusted professionals. This course will educate advisors on how seniors are exploited, who the abusers are, and how to help protect vulnerable individuals.

Fraudsters also target seniors from outside their circles. Con artists seek out those who are socially isolated, financially insecure, or in poor health. Advisors will gain insights into elder fraud schemes and learn effective prevention strategies. A key takeaway: If it sounds too good to be true, it probably is.

The course offers a comprehensive review of financial exploitation, covering:

Types of elder financial abuse
Profiles of common victims
Preventative measures
How fraud is carried out through various media (telemarketing, mail, internet, door-to-door scams)

By discussing fraud prevention with clients, advisors can strengthen trust and proactively safeguard seniors. Raising awareness is a crucial step in reducing exploitation.

Course Topics:

Senior financial abuse and fraud prevention
Common perpetrators and their tactics
Why elders are targeted: wealth, personality traits, isolation, health issues
Popular scams: telemarketing fraud, renovation scams, fake check scams, investment fraud, Ponzi schemes, identity theft, and more
Warning signs and why seniors often don’t report abuse
How advisors and family members can prevent financial abuse
Red flags of elder financial abuse by investment professionals
The role of a Trusted Contact Person (TCP)
Where to seek help

By completing this course, advisors will be better equipped to recognize, prevent, and address financial abuse, ensuring their senior clients remain informed and protected.