Financial coercive control is an incredibly manipulative form of abuse that strips people of their financial independence, dignity and security. As a financial adviser, I see the impacts firsthand, especially – but not exclusively – among women and the elderly.

Financial abuse involves controlling a person’s access to or use of money to make them dependent, powerless or fearful. Sometimes it starts subtly, with one partner handling all household finances, or an adult child helping an elderly parent with online banking.

Women and the elderly are common targets of financial abuse.Credit: Getty.

Many people will recognise themselves in the above scenarios – but sometimes this evolves into complete financial reliance and domination.

In some cases, it is about not being provided with enough money to purchase food and essentials, in others it might be having income payments paid into a partner’s bank account.

The alarm bells ring for financial advisers if a client seems unaware of how their money is spent, is unable to explain large withdrawals or debt accumulation or is unable to access their own bank accounts.

The Commonwealth Bank of Australia estimates that financial abuse costs victims $5.7 billion annually. Yet too often the abuse remains hidden –........

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