Staying Smart About Financial Scams
Every day we work with people who have spent decades building something meaningful — savings, investments, businesses, and a financial life designed to support the people and causes they care about.
Protecting those resources is just as important as growing them.
One area that has quietly increased in recent years is financial scams targeting older adults. According to the FBI, more than 147,000 Americans age 60 and older reported scams in 2024, with reported losses totaling $4.9 billion. Both figures increased more than 40% from the year prior, and experts believe many incidents go unreported.
This isn’t happening because people are careless or uninformed. In fact, many victims are highly educated and financially experienced.
The reality is that scammers have become very sophisticated. They often impersonate trusted institutions like banks, credit card companies, technology providers, or even government agencies. In some cases, scammers are even using artificial intelligence to replicate voices or create convincing messages.
The good news is that a few simple habits can dramatically reduce the risk.
A Simple Rule: Pause and Verify
One of the most effective protections is also one of the simplest:
Never respond directly to an unsolicited request for financial information.
If you receive an email, phone call, or text message asking you to confirm a transaction, verify account information, or move funds:
Instead of responding to the message, contact the company directly using the phone number on your card, statement, or official website.
That small pause creates space to confirm whether the request is legitimate.
A Few Smart Safeguards
There are a few additional steps that can add helpful layers of protection.
1. Let unknown calls go to voicemail. Legitimate organizations will leave a message, and you can call them back using a verified number.
2. Avoid clicking links in unexpected emails or texts. Instead, go directly to the organization’s website by typing the address into your browser.
3. Take your time before moving money. Scammers often create urgency to push people into quick decisions.
4. When something feels unusual, talk with someone you trust. A second set of eyes can quickly confirm whether something makes sense.
When in Doubt, Call Us
One of the advantages of having a financial advisor involved in your life is that you don’t have to navigate situations like this alone.
If you ever receive a message or phone call that involves your finances and something doesn’t feel quite right, please don’t hesitate to reach out to us. We are always happy to take a quick look, make a call, or help verify whether something is legitimate.
Sometimes a 30-second conversation can prevent a much larger problem.
Protecting what you’ve built is part of the broader care team approach we believe in. Financial planning is not only about investments and long-term strategy. It is also about helping create clarity, confidence, and safeguards around the resources that matter most to you and your family.
If you ever have questions or concerns about something you receive related to your accounts, please give us a call. We are always here to help.
Data sourced from the FBI’s 2024 Internet Crime Report (IC3), along with insights from the FTC, National Council on Aging, and AARP. If you ever receive something that doesn’t feel right, we’re always here to help review it with you.
*The foregoing content reflects the opinions of Van Hulzen Asset Management DBA "Van Hulzen Financial Advisors" and is subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that the statements, opinions, or forecasts provided herein will prove to be correct. Past performance may not be indicative of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. Securities investing involves risk, including the potential for loss of principal. There is no assurance that any investment plan or strategy will be successful. Van Hulzen Asset Management is an investment advisory firm registered with the Securities and Exchange Commission (“SEC”). SEC registration does not imply a certain level of skill and or expertise. Van Hulzen Asset Management does not provide tax advice; please consult your tax professional for any specific tax-related questions.