HARRISBURG, Pa., Nov. 2, 2017 /PRNewswire-USNewswire/ -- With many investment advisers reporting that they have clients orclient family members struggling with opioid use disorder, the Department of Banking and Securities has partnered with the Department of Health to provide a resource guide to assist financial professionals coping with this public health crisis.
"Financial services professionals are on the front line of the opioid crisis due to the high costs associated with addiction and treatment," said Secretary of Banking and Securities Robin L. Wiessmann. "This resource guide provides investment advisers a good starting point in addressing a complex issue that is outside of their area of professional expertise."
As the opioid crisis wreaks havoc on families, communities, and businesses, the financial pressures placed on individuals and families is becoming a business issue for investment advisers whose clients are requesting or even demanding funds from retirement accounts to pay for opioid treatment.
The guide provides investment advisers with the following information:
"The opioid epidemic is having a devastating impact across Pennsylvania beyond individuals and their immediate families," said Acting Secretary of Health, Dr. Rachel Levine. "The more people become informed about how to proactively address this epidemic, the better our communities and businesses can rise to meet this very real public health emergency."
Individuals and companies wishing to receive printed copies of the resource guide can make requests at firstname.lastname@example.org.
The PA Department of Banking and Securities registers more than 200,000 broker-dealers, broker-dealer agents, investment advisers, investment adviser representatives, and notice filers who conduct securities-related business in Pennsylvania. Members of the securities industry are invited to connect to the department through its website (www.dobs.pa.gov), Facebook and Twitter, and subscribing to the department's newsletter.
MEDIA CONTACT: Ed Novak, 717-783-4721
View original content:http://www.prnewswire.com/news-releases/pennsylvania-investment-advisers-offered-guidance-on-how-to-help-clients-firms-affected-by-the-opioid-epidemic-300548533.html
SOURCE Pennsylvania Department of Banking and Securities
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