Carefull: a Digital monitoring tool

It gets more and more difficult to protect and monitor our important information.  If you are helping a senior it is even harder.  
Carefull is a new digital tool that helps consumers monitor their data and accounts as well as those of their loved ones. 

You may have noticed we spend a fair amount of our time focused on elder planning, care and other pertinent topics often encountered in this age group.  There are three important reasons we do so.
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1. Many of our clients have aging parents and encounter various iterations of needs and concerns when caring for their loved ones.  We want to provide useful information to make this responsibility easier and less stressful.
2. We are all (fortunately!) aging.  Sooner or later, some of these topics will come home to roost for our own children, spouses or family.
3. There is enormous scrutiny from the SEC and FINRA of financial advisors whose client base includes the elderly.  Simply because they are most at risk to be taken advantage of or mistreated by family members or others who have access to their financial lives.  Hence our effort to provide best in class advice and service.  Our July 2020 blog describes this.  Jenifer's blog - Mosaic Fi

Our dedicated Director of Compliance, Stacy Blum, discovered a new tool, called Carefull.  Carefull is a new digital service that provides a full set of tools that can help loved ones oversee the safety of financial accounts, passwords, and documents for their elderly parents.  It scans for fraud, mistakes, and scams.  In addition, it provides monitoring for identity theft and credit monitoring.  There is also a vault in which to store sensitive documents and passwords.
 
Carefull Features 

• Using Carefull requires the setup of a profile including financial accounts that you would like to have monitored.  Once the information is complete, Carefull can be activated.
• Carefull is a subscription service, pricing is available on their website.   They offer a 30-day free trial to use the service.
• You can invite others to join your profile circle in a read only capacity.  For instance, if you have siblings and would like to include them to facilitate future conversations, you can add them to your circle at no cost.
• Carefull’s AI learns typical financial behaviors to better predict when something unusual may occur.
• Carefull provides an in-depth description of the security features it uses to protect data.  It is available for your review on their website.
• Carefull also provides printed copies of information for those who prefer to read offline.
• Carefull monitors all connected financial accounts for many issues that are common to older adults and brings the most urgent ones to your attention, including the following:
  • Changes in spending patterns
  • Late bills and payments
  • Duplicate transactions
  • Unusual transfers
  • Unusual bill amounts and new bills
  • Unknown or unusual merchants
  • Large or unfamiliar transactions
  • Unusual number of transactions
  • Insufficient funds
  • Recurring charitable and political donations
  • Gift card purchases
  • Changes in pharmacy spending
  • Transfers made through peer-to-peer payment apps

 
For additional information, please visit getcarefull.com
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