When we think about financial success, we often think of smart investments, diligent saving, and careful planning. But true financial security also requires guarding against a growing threat: financial exploitation - a risk that impacts individuals across all walks of life.
Women, in particular, often face heightened exposure. Longer life expectancies, transitional life events such as widowhood or divorce, and historical wealth gaps mean safeguarding financial independence is more important than ever. At Ledyard Wealth Management, we believe that knowledge is your most powerful financial safeguard. Recognizing early warning signs can help preserve your wealth, independence, and peace of mind.
Five Warning Signs to Watch For
1. Lack of Transparency
Trusted advisors explain fees, strategies, and risks clearly. If you encounter vague explanations or complicated answers about how someone is paid, that’s a warning sign.
2. Excessive Control or Pressure
High-pressure sales tactics, discouraging second opinions, or isolating clients from trusted family members are warning signs. A reputable advisor encourages open communication, supports collaborative decision-making, and honors your voice by listening carefully to your needs and goals.
3. Unusual Account Activity
Review your financial statements regularly. Be wary of unauthorized transactions, requests for blank-signed forms, or unexplained obstacles when trying to access your funds.
4. Conflicts of Interest
Not all advisors operate under the same standards. Ask whether your advisor acts as a fiduciary - someone legally required to put your interests first — and be cautious if only proprietary or commission-based products are recommended.
5. Targeting During Life Transitions
Major life changes, like illness, divorce, or bereavement, can create vulnerability. Financial exploitation often intensifies during these times, so staying alert is critical.
How You Can Protect Yourself
- Work with a fiduciary: Verify registration through the SEC or state regulators.
- Understand compensation structures: Ask clear questions about how your advisor is paid.
- Monitor your accounts regularly: Review statements for unusual activity.
- Trust your instincts: If something feels wrong, consult trusted family members or seek a second opinion.
Financial Security Starts with Empowerment
At Ledyard Wealth Management, we are committed to helping you feel confident, protected, and empowered in every aspect of your financial life.
Through initiatives like Women with Purpose — a cornerstone course in our Masterclass series — we provide a welcoming environment where women can strengthen financial knowledge, share experiences, and build resilience for the future.
Together, we can help you protect your financial future with greater knowledge, confidence, and control.
Karen Crump
VP & Senior Portfolio Manager
karen.crump@ledyard.bank