Would you recognize financial abuse if it was happening to an elderly person in your life – or to you? Financial scams, theft and fraud targeted at seniors is an everyday problem, and as we approach World Elder Abuse Awareness Day (WEAAD), Derrick, Travis and Kevin Haarhoff, their colleague in Corporate Security at Island Savings, tell you about some of the most common crimes to look out for – and what to do if you or someone else is targeted.

1:40 – Money Problem: Derrick noticed some strange activity in an older member’s account when a family member steps in as Power of Attorney.

3:00 – Expert Examination: Financial abuse against seniors takes place in dozens of ways. Travis, Derrick and Kevin diagnose the warning signs and consequences: 

·        Why Island Savings takes an interest in World Elder Abuse Awareness Day.

·        The “Grandparent Scam.”

·        “Friendly” financial fraud.

·        Avoiding electronic threats.

·        Risky “romance” scams.

·        Ensuring your information stays safe.

·        Red flags for financial abuse.

·        How to get – and give – help when financial abuse is suspected.

22:40 – Weekly Financial Fix: You only need an hour this week to take Travis’ challenge. Open up the lines of communication with a senior in your life.

If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrick your question at islandsavings.ca/wealthbeing, or at [email protected], and we will consider it for a future episode.

On every episode

Being in good financial health makes you feel at ease every day. You are free to pursue your goals and prepared to manage your future needs. Could your pocketbook be in better shape? 

If life has thrown you a financial curveball, or if you just want to be more in control of your money, tune-in to WealthBeing. Every week, we diagnose a spending, saving, borrowing, investing, or other financial problem to provide simple advice that can help you thrive.

You’ll hear about real-life financial challenges that our Island Savings hosts, guests and members have encountered. We’ll share the time-tested financial solutions we recommend to members. And every week you’ll receive a simple strategy that you can use right away to improve your financial health.

Listen to WealthBeing live on Saturday mornings at 8:00 a.m. on CFAX 1070 or stream our episodes to your podcatcher.

Our WealthBeing Hosts

Travis Koivula

B.Eng, CFA, CFP®, CIM, FCSI, CIWM

Senior Wealth Advisor | Senior Investment Advisor 

Island Savings Insurance Services | Credential Securities

Travis has been serving the financial needs of members in the Credit Union system since 2007 and is one of the most accredited financial advisors in Canada. He holds the globally recognized Charted Financial Analyst (CFA) designation, passing all three tests on his first attempt. In addition he is a Certified Financial Planner (top 1% of his class), Canadian Investment Manager(CIM), Fellow of the Canadian Securities Institute(FSCI) and a Chartered Strategic Wealth Professional(CSWP).
 
 Born and raised in Kamloops, Travis completed his Bachelor of Engineering degree at the University of Victoria and developed strong ties to the Capital region. Inspired by the work of Warren Buffett and Peter Lynch, he switched paths and turned his hobby and love of investment strategy into a career. Travis specializes in working with Island Savings members who are US citizens and transferring American assets to Canada. He has e