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Dicing with death

Not all elderly people are infirm, something financial planners should remember, especially when clients want to take risks, says Matt Phillips

25 March 2013

We all recognise that elderly clients are more likely to be vulnerable. And this can manifest itself in a number of ways. For example, it could be that elderly clients have a generational reserve, or are less likely to challenge advice or someone selling them something. They might feel intimidated by what could be perceived as strong and aggressive sales techniques or they might already have a medical condition, such as Alzheimer’s.

In addition, elderly clients will have accumulated their wealth throughout their lives. So those who are asset rich are attractive to unscrupulous and commission-driven sales people.

However, do we run the risk of treating all elderly clients as infirm? If I was a fit and healthy 80-year-old (my father-in-law was climbing ladders in his 90s and my grandmother rod...

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