News Release

FINRA Launches Toll-Free FINRA Securities Helpline for Seniors

For Release: 
Monday, April 20, 2015
Contact(s): 

George Smaragdis (202) 728-8988
Nancy Condon (202) 728-8379

WASHINGTON—The Financial Industry Regulatory Authority (FINRA) has launched the toll-free FINRA Securities Helpline for SeniorsTM to provide older investors with a supportive place to get assistance from knowledgeable FINRA staff related to concerns they have with their brokerage accounts and investments.

Senior investors can call FINRA's new toll-free FINRA Securities Helpline for Seniors (844-57-HELPS or 844-574-3577) from 9:00 a.m. – 5:00 p.m. ET, Monday through Friday, and get neutral, knowledgeable assistance with:

  • understanding how to review your investment portfolio or account statements;
  • concerns about the handling of a brokerage account; and
  • investor tools and resources from FINRA, including BrokerCheck®.

"Protecting senior investors has been an important priority for FINRA for several years. Our goal in setting up this Helpline is to build on these efforts and provide an additional resource to senior investors. FINRA's Helpline means that older investors are only a phone call away from getting help with questions or concerns they may have regarding their investments. FINRA staff will point seniors to educational tools that can help them better understand investing, savings and investment products, as well as resources like BrokerCheck that can provide valuable information about securities firms and financial professionals," said Susan Axelrod, FINRA's Executive Vice President for Regulatory Operations.

The Social Security Administration estimates that an average of 10,000 Americans will turn 65 every day for the next 15 years. Seniors have unique needs that elevate the need for expedited attention with securities brokerage concerns, including lack of outside income, potential health complications and diminished mental capacity. The FINRA Securities Helpline for Seniors provides investors who feel that their account has been mishandled by a broker with quick and easy access to information and resources.

FINRA views the protection of senior investors as a key priority. The treatment of senior investors has consistently been one of FINRA's top examination priorities, and FINRA has sponsored forums for regulators and securities industry representatives to come together to identify and discuss the challenges and solutions around this segment of the investing public. The FINRA Securities Helpline for Seniors, along with a recently published paper captioned Report on National Senior Investor Initiative, continue FINRA's initiatives designed to protect senior investors.

FINRA, the Financial Industry Regulatory Authority, is the largest independent regulator for all securities firms doing business in the United States. FINRA is dedicated to investor protection and market integrity through effective and efficient regulation and complementary compliance and technology-based services. FINRA touches virtually every aspect of the securities business – from registering and educating all industry participants to examining securities firms, writing rules, enforcing those rules and the federal securities laws, and informing and educating the investing public. In addition, FINRA provides surveillance and other regulatory services for equities and options markets, as well as trade reporting and other industry utilities. FINRA also administers the largest dispute resolution forum for investors and firms. For more information, please visit www.finra.org.