Kris Tower Provides Expert Counsel as Colorado Governor Signs HB 17-1253

June 2017, For Immediate Release

DENVER -- Colorado House Bill 17-1253: Protect Seniors From Financial Abuse Concerning the 'Protection of Vulnerable Adults from Financial Exploitation Act' was signed into law by Colorado Governor John Hickenlooper on Friday, June 2nd at the City of Wheat Ridge Police Department.

Prior to this bill’s passing, any request for funds to be distributed was to be immediately processed without question of intent. New legislation in the form of HB 17-1253 provides a window of time for licensed securities professionals (qualified professionals) to exercise due diligence. Any reasonable suspicion of financial exploitation of a vulnerable adult may now allow licensed securities professionals to effectively pause the distribution of funds for further investigation by the appropriate authorities.

In attendance as expert counsel was Mr. Kris Tower, Managing Director of American Portfolios Denver. Mr. Tower provided testimony before the Colorado State Senate Finance Committee on April 13th, 2017 regarding HB 17-1253. He is an appointed member of the Financial Planning Association National Advocacy committee. Mr. Tower is one of seven Certified Financial Planners reviewing and recommending policy or legislative positions to the FPA’s National Board of Directors on behalf of FPA’s 23,000 current members.

Additional commentary on the nature and purpose of HB 17-1253 may be provided by contacting Mr. Kris Tower at American Portfolios Denver.

-----------------------------------------------------------------------------------------------------------------------------------------

Kris Tower is a Managing Director of American Portfolios Financial Services, a Certified Financial Planner (CFP), and a Qualified Plan Financial Consultant (QPFC). He is a member of the Board of Directors of the Colorado Financial Planning Association. He also serves on the Financial Industry Advisory Committee to the Colorado Securities Commissioner and the Producer Advisory Council to the Colorado Insurance Commissioner. Securities offered through American Portfolios Financial Services, Inc. (APFS) Member FINRA/SIPC. Investment Advisory services offered through American Portfolios Advisors, Inc. and APFS Wealth Management, Inc., SEC Registered Investment Advisors. APFS is not affiliated with APFS Wealth Management Inc.