World Elder Abuse Awareness Day – a call to action for financial advisers
The United Nations has designated 15 June as World Elder Abuse Awareness Day, a time to reflect on the growing need to protect the rights, dignity, and wellbeing of older people. But awareness shouldn’t be confined to a single day—every interaction with an older client (or their family) is an opportunity to prevent elder abuse.
At Aged Care Steps, we are committed to educating and equipping financial advice professionals to identify risks and engage in meaningful conversations with older clients and their families. Your role goes far beyond financial transactions—you are in a unique position to protect some of the most vulnerable members of our community.
Elder abuse is more common than you think
According to the NSW Ageing and Disability Commission:
29% of reported elder abuse involves financial abuse
39% involves psychological abuse
67% of reported victims are older women.
Most cases occur within families and often go unrecognised or unreported. Financial advisers are often one of the few professionals with ongoing visibility of an older person’s financial situation and family dynamics. You may be the first to notice red flags—such as unusual transactions, pressure to change wills or financial plans, or misuse of Powers of Attorney.
Aged care advice is about more than just care
Aged care advice isn't just about accessing services—it's about planning for how we live, who supports us, and who makes decisions on our behalf. These are deeply personal and often emotionally charged topics. Your ability to guide these discussions with empathy and clarity can make a lasting impact.
Start early. Encourage clients to consider:
Who they trust to make decisions if they lose capacity
What matters most to them, and ensuring this is clearly communicated
Having open conversations with family now to reduce guilt, conflict, or confusion later.
The role of financial advisers in preventing abuse
As a trusted adviser, you can:
Recognise unusual behaviour or financial activity that may indicate coercion or exploitation
Ensure Powers of Attorney are used appropriately, and not beyond their legal scope
Facilitate family meetings to align expectations and promote transparency
Encourage older clients to document their wishes and put safeguards in place.
Awareness, action, and support
World Elder Abuse Awareness Day is a timely reminder that we all have a role to play. If you suspect abuse, a respectful family conversation can be a first step. For confidential guidance and support, contact the National Elder Abuse Helpline – 1800 ELDERHelp (1800 353 374).
Let’s use this time not only to raise awareness, but to take meaningful action—by safeguarding the dignity and autonomy of our older clients through informed, proactive advice.