Help Decide the Future of Aging. Join the White House’s Live Stream Tomorrow. Learn more


You Could Choose Your Dream Vacation

Contests and

AARP’s Superstar
2015 Contest

Sing for a chance to win $5,000! Enter AARP’s Superstar 2015 Contest!
See official rules.

Driver Safety

Piggy bank on the road - AARP Driver Safety

Take the new AARP Smart Driver Course!

AARP Books

Visit the Money Section

Enjoy titles on retirement, Social Security, and becoming debt-free.

Jobs You Might Like

most popular


Financial Regulatory Reform

Avoiding Bad Financial Advice

Do your homework and learn how new regulations can help protect you

Pena's experience is not isolated. In a 2008 survey of financial planners conducted by the Certified Financial Planner Board of Standards (CFP Board), 61 percent reported having at least one client who came to them after having a bad experience with another financial professional.

"Unfortunately, it's not unusual," says Eleanor Blayney, a certified financial planner and the CFP Board's consumer advocate. "It can range from just simply not having the right adviser to outright misinformation to something more criminal."

Avoiding bad advice can be tricky, Blayney says, since many financial professionals aren't subject to government regulation. As part of a series of financial reforms enacted in 2010, federal officials are now conducting a study to look at how financial planners are regulated and whether gaps exist. This could lead to greater industry oversight in the future.

The 2010 financial reform legislation established a consumer watchdog agency that opened in July. The agency – known as the Consumer Finance Protection Bureau – just launched a special Office of Older Americans. Hubert “Skip” Humphrey III was appointed in October to lead the office. He is a former Minnesota attorney general and a former member of the AARP board of directors.

AARP has been making recommendations to the Office of Older Americans based on feedback from members.  The office will be specifically designed to promote financial literacy among older consumers, to help prevent abusive practices and to monitor the certifications of financial advisers. It will also serve as a place for older consumers to obtain financial information and assistance.

Until the Office of Older Americans is fully functional, here are some places you can go to for financial protection information:

Topic Alerts

You can get weekly email alerts on the topics below. Just click “Follow.”

Manage Alerts


Please wait...

progress bar, please wait

Tell Us WhatYou Think

Please leave your comment below.

The Cheap Life

Jeff Yeager Cheap Life Ultimate Cheapskate AARP YouTube web series save money

Catch the latest episode of The Cheap Life starring Jeff Yeager, AARP's Ultimate Cheapskate. Watch

Discounts & Benefits

From companies that meet the high standards of service and quality set by AARP.

membership benefit financial college aarp

Advice on saving for education from AARP® College Savings Solutions from TIAA-CREF.

AARP Credit card from Chase

Members can get cash back rewards on purchases with the AARP® Credit Card from Chase.

member benefit aarp financial service auto insurance

AARP® Auto Insurance Program from The Hartford offers members no-cost quotes.

Member Benefits

Join or renew today! AARP members receive exclusive member benefits & affect social change.

Advance your skills. Transform your career.

Explore your learning possibilities.