Protecting Seniors Wealth has announced the new program to provide continuing professional development solutions for assisting clients with the rapidly increasing problem of financial senior abuse.
The one-day workshop is an in person course that provides the opportunity for learning and sharing of knowledge and skills.
Those who complete the course are supported by Protecting Seniors Wealth member services where they can access a range of resources, case studies and guidance.
Chief executive of Protecting Seniors Wealth Anne McGowan said that professional advisers often asked them what to do for their clients in these positions and it was a growing concern.
“Financial advisers are in a unique position to assist clients and this is now expected as the dubbed inheritance impatience, part of this unwanted trend, continues to grow further impacting the senior demographic, and now it’s impacting younger seniors, and everyone, including business,” she said.
The new program would help staff to assist clients, said Ms McGowan, because there were many things that could be done to help clients.
“It’s also important not to be complicit, even inadvertently, in a financial exploitation situation as advisers could be held accountable,” she said.
The training course could mean the difference between a long-term relationship with a client or losing them due to financial abuse, said Ms McGowan.
“Clients best interests is the focus in the training courses, helping them to remain safe and sure with their finances in tact, along with their dignity and right to make choices. Preventing further impact on their finances and preserving those quality long term relationships,” she said.
The properly accredited course would help the rapidly ageing population and help advisers establish and keep good client relationships.
“The launch of the training program not only provides accredited courses, it puts the financial services industry and professional advisers and Protecting Seniors Wealth in an unmatched position to assist senior clients and their genuine family, retaining the client relationships in a professional and proper way which is in everyone’s best interests,” said Ms McGowan.
Many years ago , I had an accountant investing some of his brain injured client monies into the accountants franchise scheme .I went to the VCAT equivalent court to say that this financial abuse and unprofessional conduct was happening. The judge praised me and ordered all funds including the ones i looked after go to State Trustees . End result : I lost 2 days pay by going to court with no compensation , I lost the FUM from my client , accountant got off scott free and the big winner was the State trustees . I ask myself why bother ?. I live for the day when we can get paid for bringing those crooks to account . What about that ASIC ….. sorry sleep at the wheel again , Where and what is head of ASIC Shipton doing . Why not meet with Planners to discuss these very issues rather than come up with another Kaplan style expensive workshop ?