Watch Out for Senior Money Moments

Trusted financial professionals can be among the first to spot a problem that's more than just normal forgetfulness.

Four years ago, employees in the legal department of Wells Fargo Advisors fielded an average of 30 reports a month from advisers in branch offices who were concerned about elderly clients. Today, reports about clients potentially being victimized by scams, suffering from dementia or simply laboring under a diminished capacity to make sound financial decisions stream in at an average rate of 100 per month. So Wells Fargo has assembled a dedicated unit called Elder Client Initiatives to investigate and handle such concerns, and even work with law enforcement or protective services, if warranted.

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Anne Kates Smith
Executive Editor, Kiplinger's Personal Finance

Anne Kates Smith brings Wall Street to Main Street, with decades of experience covering investments and personal finance for real people trying to navigate fast-changing markets, preserve financial security or plan for the future. She oversees the magazine's investing coverage,  authors Kiplinger’s biannual stock-market outlooks and writes the "Your Mind and Your Money" column, a take on behavioral finance and how investors can get out of their own way. Smith began her journalism career as a writer and columnist for USA Today. Prior to joining Kiplinger, she was a senior editor at U.S. News & World Report and a contributing columnist for TheStreet. Smith is a graduate of St. John's College in Annapolis, Md., the third-oldest college in America.