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A call to rethink how we protect the finances of our elderly and vulnerable

21st May 2021
Posted by Aston Avery

During Dementia Action Week, we aim to think about how we can improve the lives of the nearly 1 million families in the UK who are affected by dementia in some way. Often one of the things, relatives of those suffering, have to take control of, which at times can be a lot to deal with, is the finances.

Particularly over the pandemic scammers and fraudsters have sadly ramped up their pursuit of the vulnerable, and being in control of this can be tough. Whether it’s conning those with deteriorating psychological conditions, such as dementia, into handing over huge sums of cash or ridding pensioners of hard earned life-savings to – scammers often target the most vulnerable in society and it can be a lot of pressure to make sure that finances are looked after.

This Dementia Action Week, experts are urging people to do your bit to help vulnerable relatives manage their finances more effectively.  For people living with dementia or Alzheimer’s in particular, a financial provider that offers support and makes a commitment to fairness and outstanding service is vital – particularly against the backdrop of the pandemic.

Aston spoke to Martin Shaw, CEO of the Association of Financial Mutuals.