FIRST AIRED: July 1, 2015

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00:00:00
lawmakers in several states are aggressively pushing through new bills to protect vulnerable class of investors those with dementia the most high profile case when eris brooke astor was robbed of some of her two hundred million dollar fortune by her own son who took advantage of our impaired mental state liz dilts is working the story for reuters it really brought to the forefront the conversation about vulnerable not just , but vulnerable , more than five million americans over the age of sixty five have some form of dementia with estimates that u. s. seniors lose as much as two point six billion dollars due to financial exploitation every year more than half of that is perpetrated by friends family members or caregivers prompting some states to move to empower brokers making them gatekeepers if they suspect abuse , advisers can , of honorable , the composite for up to ten days , some people have reservations about the laws here in wealth managers could interfere with legitimate transactions but the brokerage industry says the new laws are needed to protect not just their clients , by themselves