A Daily Network publication
Explore the network
Wealth Advisor Daily
The advisor's edition — practice, portfolio, and the book.
Thursday, October 22, 2026The Morning Brief →Sign in
The Book

NASAA puts trusted contacts at the center of senior fraud prevention

The Serve Our Seniors campaign gives advisers a no-cost step to protect older clients—if they treat the trusted contact as more than paperwork.

At a glance

30-second brief
  • The Serve Our Seniors campaign gives advisers a no-cost step to protect older clients—if they treat the trusted contact as more than paperwork.

  • For senior investors, a small form decision can matter more than any allocation, which is why the North American Securities Administrators Association has built its Serve Our Seniors campaign around a single instruction: designate a trusted contact on your investment accounts.

  • The effort runs out of NASAA's Senior Issues Committee, created in 2014 to focus on financial abuse and fraud aimed at investors in or near retirement.

For senior investors, a small form decision can matter more than any allocation, which is why the North American Securities Administrators Association has built its Serve Our Seniors campaign around a single instruction: designate a trusted contact on your investment accounts. The association's materials call the designation a key protection measure and point users to an interactive map for the correct state or provincial securities regulator.

The effort runs out of NASAA's Senior Issues Committee, created in 2014 to focus on financial abuse and fraud aimed at investors in or near retirement. The committee goes well beyond enforcement: its roster includes representatives from NASAA's Board and a cross-section of its section committees covering broker-dealers, corporation finance, enforcement, investment advisers and investor education, while an advisory committee of experts from government, business, senior advocacy organizations, academia and the medical and legal fields feeds in outside perspective. The committee's stated job is to spot trends, find solutions and prevent harm through outreach and awareness.

For the advisory desk, the trusted contact is the rare protection that costs no product, no fee and no portfolio change, and it is also the easiest account-level safeguard to relegate to a new-account checkbox. A checkbox is completed once and forgotten; a trusted contact designation becomes useful only when the adviser treats it as a living part of the relationship—revisited at annual reviews, updated when family circumstances shift, and invoked when an account begins moving money in patterns the client would not recognize. The existence of a dedicated committee with that much institutional reach suggests the problem is common enough to warrant more than a form, even if NASAA's own guidance stops short of saying so.

The materials are framed for a broad audience—investors, federal and state agencies, and the financial services industry all sit in the campaign's intended readership—and the interactive map matters for the same reason: it gives a family a destination before a suspicion becomes a crisis. The smartest takeaway for a desk is to stop treating the designation as paperwork and start treating it as the first line of defense. It will not stop every fraud, and no one should tell a senior client it will, but it is a concrete, regulator-blessed step that any adviser can take at the next annual review, positioning the firm as the one that raised the subject before the client's family had to.

Continue your research

Save this analysis and keep the funds you follow together in My Desk.

Sign in to save articles or follow funds.
Sources & further reading
NASAA News
More from Wealth Advisor Daily
The Book

Higher rates can cut closely held business valuations and open an estate-gift window

A lower supportable fair market value lets an owner move more ownership out of the estate while using less lifetime gift and estate tax exemption, though company facts still drive the appraisal.
The Book

Slott Report: HSA contributions fall to self-only limit when one spouse enrolls in Medicare

The same mailbag walks a 71-year-old through moving a Vanguard IRA to Fidelity and converting part of it, noting the RMD rule that applies later.
The Advisor's Note

Beacon Pointe to buy $1B WorthPointe without founder Van Slyke

Terms were not disclosed, and the Austin and Tyler offices become new Beacon Pointe locations.
Elsewhere in the networkAll titles →
Every weekday · 6:30 a.m. ET

The Morning Brief

The latest from Wealth Advisor Daily, in your inbox every weekday. Free.