“The rule allows brokers, who are often the first ones to notice that a client is being exploited, to step in”. @danbernstein speaks with @VeronicaDagher @WSJ.

Financial advisers are increasingly using their ability to oversee client assets to root out and prevent one of the biggest problems facing older Americans: financial fraud.  This problem… has gotten so acute that financial regulators earlier this year approved a new rule aimed at safeguarding client assets from being distributed.

“The rule allows brokers, who are often the first ones to notice that a client is being exploited, to step in,” says Daniel Bernstein, chief regulatory counsel at MarketCounsel, a firm in Englewood, N.J., that helps advisers comply with investment regulations.

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