February 26, 2021
Adviser Investments is proud to announce its participation in the AARP’s BankSafe training program, which helps frontline staff at financial institutions recognize and prevent financial exploitation and abuse.
To qualify for the seal, a minimum of 80% of Adviser Investments’ client-facing staff had to successfully pass the BankSafe training.
“Participating in the BankSafe program showcases our commitment to fighting financial exploitation of seniors and helps us to better meet clients’ financial needs and safeguard their assets,” said Chief Compliance Officer Tim O’Hara.
BankSafe, an online interactive training specifically for financial institutions, was developed by the AARP and a variety of industry, government and non-profit partners, including the Virginia Tech Center for Gerontology. In a pilot study, staff who had undergone the BankSafe training were able to save 16-times more money from financial exploitation than a control group, saving nearly $1 million in older adults’ deposits in a six-month period. Employees who had undergone BankSafe training were able to recognize and report four times as many exploitation attempts as the control group.
As a fiduciaryA person or organization who manages assets for a third party, and is legally bound to act in the best interests of that third party, putting the third party’s interest before their own., Adviser Investments actively seeks opportunities to enhance our internal security and better protect our clients. Our participation in BankSafe is the latest step in that ongoing journey—one we’re proud to make and share with you.
AARP BankSafe™ training consists of several interactive training modules covering topics such as economic harm caused by financial exploitation, recognizing financial exploitation, addressing financial exploitation and applicable state laws and rules addressing financial exploitation. In order for financial firms to earn and display the AARP’s BankSafe™ Trained seal, 80% of the firm’s client facing employees must complete the training modules with a passing score, the firm must have a policy requiring employees to report financial exploitation and “be in good standing” as defined by the AARP BankSafe™ program. Firms must meet these requirements annually to continue to display the AARP BankSafe™ Trained seal. Visit https://www.aarp.org/banksafe for more information on the program. Visit https://www.aarp.org/ppi/banksafe/training/verification/ for a current list of verified firms.
Completion of AARP’s BankSafe™ training does not guarantee that a firm or its employees will be able to recognize, prevent or mitigate financial exploitation in all instances.
Polaris Wealth Advisory Group and Adviser Investments are now under one new brand, RWA Wealth Partners.
Over the next few months, we are transitioning to a new website under our new brand. For you, this means a better experience and more access to valuable education, insights and advice. It also means you gain access to expanded wealth management solutions such as tax¹ and legal services², alternative investments and more. Explore this site for additional information on these new services and call your advisor with any questions at 833-RWA-PLAN.
¹Personalized tax advice and tax return preparation is available through a separate, written engagement agreement with RWA Tax Solutions, LLC.
²Legal services can be obtained through a separate, written engagement via our relationship with Hall & Diana, LLC