"We take only the most blatant cases," Bills said. "The good news is that, not counting a case that has just been resolved, we've had 14 major cases in a row with a total of $2.2 million directly returned to the victims. The bad news is that the companies should have given the money back because it was the right thing to do," but didn't until Bills got involved.

"What The St. Jude Project specifically does is provide a detailed, no-nonsense, documented professional analysis of how the elderly person was financially misadvised and harmed," Bills said. "And we simply mail it to the company involved. We insist that our analysis be presented to the company's litigation department. It is apparent that, after our analysis is reviewed, they somehow have a 'change of heart' and decide to restore the losses."

I have talked to seniors who sought Bills' help and to industry regulators familiar with Bills' work, which they all praise. I also have reviewed inch-thick documents for some cases, and I have been impressed by the thorough analysis. In the case of the 78-year-old woman, for example, the questionable life insurance policy was not designated in the application paperwork as a replacement for the annuity, as it had to be by law. The man who bought the life-only immediate annuity submitted - and had processed - a form naming his living trust as beneficiary, a clear indication that he believed the annuity had value after his death.

As to the companies' usual defense that everything was signed and in order, Bills writes: "Do elderly people sign documents without reading or completely understanding the fine print? The answer is, unfortunately, all the time, particularly when the elderly person has grown to trust the adviser. ... The financial advising of the elderly, particularly in the area as complicated as annuities and life insurance, carries with it a more stringent responsibility."

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