When a family member experiences cognitive decline, financial advisors can be an important source of support and guidance. We asked a handful of advisors about the steps they recommend families take after a dementia diagnosis. They told us about the importance of educating the person who will take over the finances and discussing legal documents such as advance directives and powers of attorney. Another recommendation: Make sure the caregiver has sources of personal support.
Among other most-read wealth management articles this week:
Sweep-rate woes. Key companies in the wealth management industry face potential fallout as legal and regulatory pressure builds for them to raise the yields they pay on uninvested client cash held in sweep accounts. A William Blair analyst issued a report looking at how much it may hurt the earnings of companies including…
