The role of financial planners in preventing, recognising and responding to elder financial abuse

Australian society is ageing, with older Australians holding significant wealth. This creates societal challenges, including increased risk of elder financial abuse (EFA) for vulnerable older people. As trusted advisors, financial planners are uniquely placed to prevent, recognise & respond to EFA. The aim of this research project was to understand elder financial abuse in the financial planning context & make recommendations to contribute to the development of best practice guidelines, evidence based training & education, and a future research agenda. A literature review, case law, ASIC criminal prosecution investigation & AFCA complaints determination analysis was undertaken to achieve the below research objectives