Because financial advisors deal with the most sensitive personal isssue--a family's finances--they often help people cope other personal issues, such as caring for a loved one with dementia. So you may be interested in learning about this new Android app for tracking an individual's whereabouts.
According to a post on CNET, the app, which is called Tell My Geo, costs $9.95 a month. It uses geolocation technology to track a cell phone's location. So the child of an individual suffering from Alzheimer's Disease can track his or her parent. Obviousy a parent can also use it to track a teenager.
The shortcoming of such an app is that an individual who is suffering memory lapses may not always remember to carry around his cell phone. And if you have a teenager who is so difficult that you require him or her to use the app, chances are he or she will figure out a way to beat the system.
Despite this shortcoming, there probably are instances when an app for tracking a family member will come in handy, and there are probably ways to ensure it will work relaibly. For intance, if family member is in the early stage of Alzheimer's but still going to work every day, you might be able to secure his telephone to his belt buckle or find some other way to make the phone hard to separate from the person.
If any advisors are familiar with devices for tracking individuals with medical issues (or unruly teens), please post a comment and let us know about your experiences.