Financial abuse: The silent crime advisers must learn to detect

Should the industry be doing more to protect vulnerable clients?

Sahar Nazir
clock • 5 min read

Financial abuse is an insidious crime that often goes unnoticed, leaving victims vulnerable and financially devastated. Given the vital role financial advisers play in managing clients’ wealth, they are uniquely positioned to detect the warning signs. Is the industry doing enough to train advisers to recognise and handle financial abuse? Sahar Nazir talks to experts…

A widespread but underreported issue Financial abuse is more common than many realise. Research from the charity Surviving Economic Abuse found that 4.1 million women in the UK experienced financial abuse from 2023 to 2024. PercyBaxter Wealth Management founder and planner Natasha Percy-Baxter tells PA that she has not received any formal training on economic or financial abuse. Instead, she has taken it upon herself to learn about the issue independently. "It is very prevalent, and given how many people experience it, it would be helpful to have guidance and training. Advisers need...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Professional Adviser TV: Breaking down barriers for career movers and young talent

Professional Adviser TV: Breaking down barriers for career movers and young talent

‘Where do they go if there’s no opportunity for them’

Professional Adviser
clock 12 September 2025 • 1 min read
Feel Good Friday: IFA duo take on 240km charity cycle challenge

Feel Good Friday: IFA duo take on 240km charity cycle challenge

Andrew Home and Chris Miles raise funds for Eternal Flame

Professional Adviser
clock 12 September 2025 • 1 min read
My Care Hub expands to public following strong adviser support

My Care Hub expands to public following strong adviser support

Advice sector has played ‘pivotal role’ in successful rollout of care guidance platform

Jenna Brown
clock 10 September 2025 • 4 min read