I do shudder to write this – but could there be a future good news story for financial planners amid an economic abuse epidemic? Experts suggest that the issue is woefully under-tackled, but advisers are perfectly positioned to help as awareness of the problem grows.
The figures on economic abuse are staggering. As per Surviving Economic Abuse (SEA), 4.1 million women experienced it in 2023 to 2024. That's more than one in ten UK women. The SEA research focuses on women because they are more than three times more likely to report non-physical domestic abuse than men, as per 2023 Office for National Statistics research. Men are and can be victims too. The spotlight on economic abuse has intensified since 2020's Covid-19 lockdowns. However, in a PA feature this week, financial advisers decried a lack of clear industry guidance on this important issue. ...
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