Cognitive Overload: The Coming Surge In Diminished Capacity Cases And What Wealth Management Firms Can Do To Protect Their Clients And Themselves

Older adults control the vast majority of wealth in the US, with an estimated 83% of all assets owned by individuals over the age of 50. As the US population ages over the next decade, the concentration of wealth in the hands of older adults is likely to accelerate.

The aging of the US population presents both challenges and opportunities for the financial services industry. Trillions of dollars will be transferred to heirs over the next 20 years, presenting significant opportunities for asset accumulation and consolidation. On the other hand, the health-related hazards that inevitably accompany an aging client base present substantial challenges.

Of these health-related risks, none is as vexing, or potentially harmful, as diminished decision-making capacity. This whitepaper explores the opportunities, risks, and realities of diminished decision-making capacity for financial services firms. It summarizes the current demographic trends, the nature of the risks to financial services firms, the regulatory environment, and the path forward for firms seeking to better protect their clients - and themselves.

 

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Cognitive Overload: The Coming Surge In Diminished Capacity Cases And What Wealth Management Firms Can Do To Protect Their Clients And Themselves, Whitepaper, 2021

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Winner 2019 Award for Thought Leadership from a technology company

Winner 2019 Award for Best Educational Materials from a technology company

 

Finalist 2021 Award for Thought Leadership from a technology company

 

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