The old saying about prevention being the best medicine holds true when it comes to financial scams. Particularly in situations involving elderly investors, victims rarely recoup even a portion of the assets they lost, experts say.

Successfully prosecuting cases of elder financial abuse is challenging for a number of reasons, not the least of which being that victims are commonly unwilling or unable to come forward as compelling witnesses, according to Tom Hebrank, CFP, president of Advanced Planning Solutions, which provides senior healthcare planning services for fee-only planners.

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