We are committed to doing what is best for our clients – not just when it comes to doing their financial plans and completing their tax returns. We are actively working to bring about political and social change in the following areas.
Extending the Statute on Financial Crimes
Ponzi schemes, embezzlers, and other con artists continue to destroy lives. Even if law enforcement catches the perpetrator(s), victims may have very little recourse, if any, to get their money back because the federal statute of limitations on financial crimes is five (5) years. While that may seem like a long time, it isn’t. It takes years before many people realize they are being conned, and another year or two to complete the necessary legal proceedings. By the time the case is ready to go to court, the statute of limitations is too close to merit moving forward. We have asked the Senate Judiciary Committee to change Title 18, Section 3282 of the United States Code. Do you have a story about how you or anyone you know was conned out of their savings, only to realize the statute of limitations for their case had passed? Let us know, or better yet, write the Senate Judiciary Committee.
Here is what we wrote:
“We are writing to ask the Senate Judiciary Committee to consider extending the statute of limitations (USCS 3282) on financial crimes (currently 5 years). At the very least, we financial planning professionals would like to see the statute of limitations begin upon discovery of the crime.” (submitted on 2/26/2018)
Preventing Elder Abuse
We support the Senior Safe Act included in HR 2255. Unfortunately, elder financial abuse is very common. Many times it is the person closest to the elder (a family member, caregiver, or close friend) who is committing the crime. As financial professionals, we are in a unique position to spot cognitive decline and abuse early on. The problem is that we cannot report the abuse without exposing ourselves to being sued or losing our license due to violating the privacy laws. The Senior Safe Act, which has passed the House and is now pending a vote by the US Senate, gives financial advisors the ability to share concerns of financial abuse with the authorities, as long as they have adequate training and are acting in good faith. Here is more info on the legislation. Do you have a story about how you or anyone you know was affected by elder financial abuse? Let us know, or write your Senators.
Here is what we wrote:
“We are writing to express our support for the Senior Safe Act, included in HR 2255. As financial advisors and fiduciaries, we have signed an oath to be aware of and always act in the best interest of our clients. For our elderly clients, this may mean speaking up to help prevent or mitigate financial exploitation. This act will give us the peace of mind that we can do this, without being punished for violating the client’s privacy.” (submitted on 2/27/2018)
We think it is important to find time to give back and educate our local community on financial literacy. We have offered our services to the following events and programs.
Teaching Personal Finance to Children
Alicia volunteers at Junior Achievement. Their mission is to inspire and prepare young people to succeed in a global economy. One way they do that is to educate children about financial literacy. It is important that they learn these skills at an early age (elementary and high school). Getting this education into the classroom reinforces what they learn at home.
Speaking about Personal Finance at Kappa Delta Sorority SDSU Chapter
Alicia presented to the Kappa Delta Sorority at SDSU. She taught the group of 150 girls, freshman to seniors, about “Finances for Young Adults”.
1 Hour Financial Coaching Giveaway to a Newlywed Couple
At Bridal Bazaar in 2018, we hosted a booth where we gave away one hour of personal finance to a newlywed couple who attended the event.