Merrill Lynch Advisor Liz Angelone Protects Clients' $2B with Trusted Contacts
Liz Angelone, a senior financial advisor at Merrill Lynch, has been making headlines for her innovative use of trusted contacts to safeguard clients' assets. Recently, her team prevented a client from losing $1 million in a real estate scam and protected another from a phishing scam, leading to her being named a Forbes | SHOOK Best Idea Winner.
Angelone, who co-manages The Angelone & Berkman Group with Brett Berkman, serving 168 households and managing assets of $2 billion, encourages clients to designate a trusted contact person. This proactive measure allows her team to reach out to the designated person if they cannot contact the client directly, as was the case with an elderly client who was targeted by a phishing scam. The trusted contact helped prevent the client from losing hundreds of thousands of dollars.
In another instance, Angelone's team used the trusted contact form to block a fraudulent wire transfer request, saving a client from losing $1 million in a real estate scam. The team also intervened to stop a client in an assisted living facility from making large wire transfers to pay off his girlfriend's debt. In both cases, the trusted contact approach not only protected the clients' financial well-being but also helped establish or strengthen relationships with family members who were not previously involved in their financial affairs. One such trusted contact is Daniel Petrillo, the son of a neglected client.
Angelone's use of trusted contacts has proven to be an effective tool in preventing financial fraud and maintaining client relationships. Her clients appreciate her proactive approach to protecting their assets, and her innovative strategy has earned her recognition as a Forbes | SHOOK Best Idea Winner.
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