A Boca Raton-based hotline has helped save investors $1.3 million after a year of operation, a securities industry oversight group that runs its says.
Wednesday marked the one-year anniversary of the Financial Industry Regulatory Authority’s Securities Helpline for Seniors.
The helpline has fielded more than 4,200 calls and recovered more than $1.3 million in voluntary reimbursements from firms since its launch, officials said.
“Financial fraud is a problem, and seniors are the most vulnerable,” said Susan Axelrod, FINRA’s executive vice president for regulatory operations. “We are very pleased that investors are using our free helpline and encourage seniors, or those caring for seniors, with investment-related questions to give us a call.”
The number is 1-844-574-3577.
The Palm Beach Post wrote about the helpline here.
Callers ranged in age from 22 to 100, the group noted.