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Financial Vulnerability
Concerned about a loved one or client?
Vulnerable people, such as older adults with dementia, can be at increased risk of financial exploitation. Not only from fraud, identity theft and scams, but from people they know pressuring them about their financial affairs, or restricting access to their finances.
We’re trained and accredited financial vulnerability assessors and can help safeguard vulnerable people.
What does our assessment involve?
Our assessment helps to determine the quality and soundness of a person’s financial decision making and identity their risk to financial exploitation, while supporting their right to make their own decisions. It includes:
Financial Decision Tracker
a short assessment that looks at a specific financial decision in the context of the individual’s values – from the rationale behind the choice they’re making, to their understanding of the outcome. From this, we identify their risk rating and if a more in-depth assessment is needed.
Family & Friends Interview
Family & Friends Interview (FFI) is a structured, multiple-choice interview of the older adult's relative, friend or trusted professional that encourages elaboration. The risk scoring system indicates risk perception, or how concerned the relative or friend is about the older adult's financial decision-making and vulnerability to financial exploitation.
Financial Vulnerability Assessment
An in-depth look at the factors involved including choice, rationale, understanding, appreciation and context. For example, are there people influencing the individual’s finances and decisions, and how susceptible are they to these influences? From this, we confirm the person’s risk rating and provide our final assessment.
Nellie Supports is a proud supporter of the Personal Finance Society’s Financial Vulnerability Taskforce, a new, independent professional body created to tackle financial exploitation in the UK. We’re also a proud partner of Lichtenberg Older Adult Next Egg and are trained and accredited to use the highly respected Lichtenberg Financial Vulnerability interview model – a proven, person-centred, evidence-based approach to financial vulnerability assessment.