Skip to content
Wednesday, October 28, 2026 · Today’s edition, 6:30 a.m. ETWed, Oct 28 · 6:30 a.m. editionSign inMy Desk 0EditionsSign in
NewsRIAs

Older Americans reported $3 billion in fraud losses in 2025

Investment scams cost $1.06 billion, up 42%; losses above $100,000 were 6% of reports but 70% of dollars.

$3BFraud losses reported by Americans 60 and older in 2025

At a glance

  1. Investment scams were the costliest category at $1.06 billion, up 42%.
  2. Losses above $100,000 were 6% of older adults' loss reports in 2025 but 70% of the dollars lost, the FTC said.
  3. For firms serving older clients, that skew suggests most dollar exposure sits in a small number of large transfers rather than frequent small ones.

Fraud losses reported to the Federal Trade Commission by Americans 60 and older reached about $3 billion in 2025, up from about $2.4 billion in 2024, InvestmentNews reported, citing the agency's ninth annual Protecting Older Consumers report. Investment scams were the costliest category at $1.06 billion, up 42%. Victims often said a social media approach steered them to fake cryptocurrency trading platforms.

Losses above $100,000 were 6% of older adults' loss reports in 2025 but 70% of the dollars lost, the FTC said. Such reports rose to 6,769 from 1,136 in 2020. The median loss for those 60 and older held at about $900, while for those 80 and older it was $2,000, up 21% from 2024.

For firms serving older clients, that skew suggests most dollar exposure sits in a small number of large transfers rather than frequent small ones. The FTC also estimates real losses could be as high as $119.5 billion, because most victims never file a complaint. As Private Wealth Daily previously reported, the agency has also flagged fake Evite invitations as a route into client email accounts.

Reported by the RIA desk from InvestmentNews. Published . Corrections

Related

RIAs

High-net-worth practices outsource tax planning most, at 55%

Trust administration follows at 40% in Cerulli's polling, and practices outsource three to four services on average.

RIAs

Capital Group: 13% of advisors use AI beyond basics

Brock Sutton says 83% of advisors use AI weekly, and firms should inventory AI tools, rank use cases and name an accountable owner.

Moves

ASN has 28 RIA launches in 2026, up from about 23 last year

About a third of the launches involved former wirehouse firms, according to ASN's Trey Prescott.

RIAs

Raymond James posts record fiscal 2026 net revenue of $15.79 billion

Fee-based Private Client Group assets rose 15% year over year, and asset management and related administrative fees grew 23% in the fourth quarter.

Private Wealth DailyThe morning edition

The private wealth industry in four minutes, every morning at 6:30 a.m. ET. Free.

Free. Every morning. Unsubscribe from any edition in one click.

From other sections