Thanks Milam for Sponsoring the Bill

To The Editor:
I would like to thank Assemblyman Matthew W. Milam (D-1st) for sponsoring the consumer protection legislation that protects seniors from predatory practices surrounding security investment products.
The bill, which was adopted by the New Jersey Legislature and awaits the signature of the governor, makes it unlawful for salespeople to claim false titles on their marketing materials. Under the bill, the use of a false title could result in the loss of license for the salesperson. Additionally, it requires that organizations be accredited so salespeople know which courses will give them a valid education, allowing them to assure consumers they have expert knowledge for financial planning.
As an older resident of New Jersey, I feel that I am often the target of such ploys. Luckily, I have not agreed to sign up for any of these security investment plans, but I am afraid that myself or a loved one may eventually be lured into a false sense of trust and be deceived out of the money that they worked hard for, money used to care for themselves and their families.
Milam’s bill was supported by AARP because it will protect seniors from these practices. Gov. Chris Christie ought to sign this bill.
SY LARSON
East Brunswick
(ED NOTE: Larson is state president of AARP)