As cognitive functions decline people with Alzheimer's struggle with financial tasks. "One of the first skills to decline is the high-level function required to accomplish financial tasks such as paying bills, balancing a checkbook or reading a brokerage statement," Franklin writes.
Advisors that have clients with Alzheimer's face legal and ethical problems. Some say that a written policy will help advisors avoid such problems.
Steve Starnes with The Monitor Group says advisors should do a few things if they notice their client's cognitive functions are deteriorating. These steps include updating the client's legal documents and estate, encouraging them to see a doctor, and helping them pick an advocate.