Gainesville-based financial advisor Beth Baldwin made a trip to Washington this week to talk about the Senior Safe Act with US Senators.
For Baldwin, the bill is personal.
"My dad was approached in 1999 to purchase telephone booths to the tune of $125,000," said Baldwin on WDUN's Afternoon News Wrap Wednesday. "I was working for Edward Jones at the time and we had no resource, no place to go to record it, or report it, to help folks like my father who were losing their money to scam artists."
Baldwin said the legislation works to protect senior citizens against bad investments, including reporting financial exploitation and training investors to spot "red flags."
"The goal is to have a support so we have a place where financial institutions can go when we have a policy, and a network to help and educate and have a stop gap, so if somebody's reported it can just go beyond Edward Jones," said Baldwin.
The bill is sposnored by Senate Special Committee on Aging Chairman Susan Collins (R-ME) and Ranking Member Claire McCaskill (D-MO) and House Financial Services members Krysten Sinema (D-AZ) and Bruce Poliquin (R-ME).
Baldwin, a financial advisor for 26 years, was sent to Washington to represent Edward Jones investors in Georgia.