It is a common market practice to cheat the elderly out of their money by financial advisers. This can be banks, insurance agents and financial advisers. Elderly investors are vunerable because they are trusting. In the past they had good experience with banks and hence they thought that the same still applies now. Unfortunately due to the focus on profit, the elderly becomes easy target. If you are an elderly person, you must ask your educated children to accompany you so that you can have your children's view considered. Never talk to a financial adviser without you being accompanied by your children. Also, gone are the days which financial institutions can be trusted. They are now the last institutions which you can trust.

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