Wells Fargo Will Hit The Road To End Elder Financial Abuse
St. Louis, June 17, 2015 - Wells Fargo will take to the highway this summer with a cross-country bus tour designed to put the brakes on elder financial abuse and fraud. The idea is to help Americans recognize and prevent a crime that targets older and vulnerable people and by some estimates costs victims in excess of $3 billion dollars each year.
"As a great American company, Wells Fargo is doing all we can help identify, prevent, and someday even eradicate an offense that preys on our most vulnerable family members and neighbors," said Mary Mack, president of Wells Fargo Advisors, the brokerage arm of Wells Fargo & Co. "With this bus tour, we hope to raise the profile of this issue. We want to share information that communities need to spot and prevent a crime that can rob people of their life savings and even tear families apart – a devastating impact from which many victims find it difficult, if not impossible, to recover."
The Wells Fargo bus, decked out in the company's familiar red and gold, will be a highly visible rolling beacon, calling attention to the threat faced by growing numbers of older and vulnerable Americans. Wells Fargo representatives will be on hand at every stop along the way to help raise awareness, answer questions and hand out information that can to help people recognize signs of elder financial abuse and perhaps stop it before it occurs.
Wells Fargo's "On the Road to End Elder Financial Abuse" tour will begin in Philadelphia on July 14 with a kickoff event in conjunction with N4A (the National Association of Area Agencies on Aging), a nonprofit supporting local agencies which advocate for and serve older and vulnerable citizens. N4A will hold its annual conference in Philadelphia from July 11 through July 15. Ron Long, head of Regulatory Affairs and Elder Client Initiatives for Wells Fargo Advisors, will speak at the N4A conference prior to kicking off the bus tour.
From Philly, the Wells Fargo bus heads west, arriving in Indianapolis on the morning of July 15 and onto St. Louis later that day. It arrives in Denver on July 17, Phoenix on July 20, and San Diego on
Information that can help people recognize and defend against elder fraud and financial abuse will be available at every stop. In addition, the Wells Fargo bus will meet up with the iconic Wells Fargo Stagecoach at Coors Field in Denver and at Qualcomm Stadium in San Diego where the public will be invited to learn more about elder financial abuse at Resource Fairs to be held in cooperation with non-profit organizations, local adult protective services agencies and companies that support the aging and caregiving community.
Wells Fargo Advisors has taken a leadership role in the industry's efforts to prevent elder financial abuse. Last year, the brokerage firm established an Elder Client Initiatives team to serve as a focal point where Wells Fargo financial advisors can report suspected cases of elder financial abuse. Among its responsibilities, the team investigates advisors’ concerns and, when appropriate reports to state Adult Protective Services or law enforcement.
Wells Fargo Advisors has also expanded training for financial advisors and other brokerage team members and work to generate greater public awareness. In addition to the planned bus tour, the firm has held client events in several cities featuring presentations by speakers who discuss their first-hand experiences dealing with financial abuse of a family member. WFA has also collaborated extensively with state adult protective services agencies and law enforcement professionals who provide guidance on how to recognize and prevent the crime.
Information about elder financial abuse, including "red flags" to help spot it, is available at: https://www.wellsfargoadvisors.com/about-wells-fargo-advisors/community-involvement/elder-financial-abuse.htm.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.7 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,700 locations, 12,500 ATMs, and the internet (wellsfargo.com) and mobile banking, and has offices in 36 countries to support customers who conduct business in the global economy. With approximately 266,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 30 on Fortune’s 2015 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially. Wells Fargo perspectives are also available at Wells Fargo Blogs and