Corporations could improve profits while dealing with financial abuse rate

 Protecting Seniors Wealth has announced an opportunity for financial service companies to exponentially improve and assist in protecting clients.


The potential arises with a new knowledge platform for financial abuse prevention, designed to ultimately benefit their clients and business.


The impact of the Covid19 health crisis is alarmingly contributing to the increase of financial abuse among the senior cohort, vulnerable people and younger demographics. Access to comprehensive expert training for prevention is vital and available in the accredited continuing professional development now online for the industry to access.


Industry professionals can now take advantage of new learning skills for how to assist clients with all types of situations and for compliance. With the addition of the latest, The Responsible Professional Management of Financial Abuse, to the expert program now offers a CPD opportunity with a range of options specifically to suit the requirements of companies who help seniors manage investments.


Extensively researched to provide many insights, including protective options and preventative measures and perpetrator profiles, this knowledge skill-set is crucial in order to assist clients remain safe and secure for the long term and protect investments.


CEO and expert Anne McGowan of Protecting Seniors Wealth describes how the unwanted trend of financial senior abuse has been consistently growing due to the lack of proper professional quality education for the issue, and now the ongoing health crisis is further impacting the senior cohort and vulnerable people and, any demographic are also at risk.


New data suggests more than 80 percent of older Victorians have suffered financial abuse and/or psychological/emotional abuse, according to the National Ageing Research Institute of Seniors Rights Victoria.


Anne McGowan commented “financial abuse is devastating for seniors and vulnerable people as their money and/or property is taken, stolen or swindled and, it is like a perfect storm presenting huge problems for the industry and senior clients with reports of misconduct rising 20 percent, according to ASIC the corporate regulator.


“A very high percentage of senior abuse is directly related to financial abuse. If the industry was much better informed around how to recognise the often complex or complicated situations, and actually planning for prevention, which we cover fully in the training program, we could potentially see a huge decrease in the rate of people impacted and essentially see considerably better outcomes.


“Bank board members have known for years it is in their best interests to help protect clients and, having a better understanding of how to assist appropriately for any given situation, directly results in higher client and investment retention rates for the long term.


"We receive feedback from attendees, saying thank you for your excellent training as one of Australia’s leading experts for elder financial abuse, and they comment on how the team gained a lot of new knowledge and enjoyed it, and they will look to refresh again”.


The accredited training program is delivered by expert Anne McGowan, and can be accessed fully online for anytime training, or provided live online, and subject to restrictions the option for beneficial live in person training is available.


Training Courses range in content and length, they cover in-depth learning material focusing on helping to protect clients in so many ways. The course titles are:

  • The Responsible Professional Management of Financial Abuse – 3 CPD Hours Financial Senior Abuse & Inheritance Impatience – Assisting Clients – 2 CPD Hours
  • New Expectations, Professional Accountability Assisting Clients – 1 CPD Hour Advanced Training Program for Professionals – 6.5 CPD Hours


Title: Protecting Seniors Wealth – Their Whole Wealth; Accredited Professional Training Program – Financial Senior Abuse Prevention


A subscription option is available for access to the full training program online for anytime training with a reference folder and newsletter included.


Data references source: ‘A perfect storm’: ASIC delivers new investment scam warning’ 24 June 2020.


28 July 2021.