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Archive for Wednesday, November 10, 2010

Kansas adopts rule on financial advice to veterans

November 10, 2010

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— Kansas veterans will receive more protection against a kind of scam under a new program adopted by the state securities commission.

The program was announced Wednesday. It requires all investment firms to comply with U.S. Department of Veterans Affairs rules on veterans and their families.

Those rules prohibit charging a fee to help veterans obtain benefits unless the adviser is an authorized agent and has a fee agreement on file with the VA.

Kansas officials say there's been a rise in reports of financial advisers charging veterans or their widows for advice they can get for free.

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