TBA Law Blog


Posted by: Letters of the Law on Jul 1, 2016

Journal Issue Date: Jul 2016

Journal Name: July 2016 - Vol. 52, No. 7

Financial Exploitation Column Helpful in Everyday Practice

These letters were written to Knoxville lawyer Monica J. Franklin, who writes the Journal’s regular column, Senior Moments. They are in reference to her June column, “Protecting Older Adults from Financial Exploitation: Proposed Federal Laws and Regulations.”

I just wanted to drop you a note to say thank you for writing the article on financial exploitation, especially regarding investment advisors and annuities.  As you, I have witnessed this situation over the years, and believe there needs to be some oversight and accountability in this area of commission-driven sales of investment products. Thanks. 

— Joseph C. Simpson, Chattanooga

Thank you so much for your informative article on financial abuse of the elderly in the Tennessee Bar Journal, especially the discussion of selling annuities to older folks. We have seen this as well, and in one case, the broker was extremely protective of his relationship with the elderly widow such that he would not allow her to meet with us as her attorneys unless he was present.

— Donna Spurlock, Chattanooga