In 2021, Ruth Dodsworth, a television journalist and weather presenter, gave several interviews disclosing that she had been a victim of domestic abuse.
For almost a decade, her now ex-husband Jonathan Wignall phoned her up to 150 times a day, tracked her movements, and was physically abusive.
What Ruth didn’t initially realise is that, in addition to the physical abuse, she suffered years of financial abuse.
In 2023, she told the Observer: “I’ve a degree, yet I didn’t have my own bank account. You think, ‘How can that have happened?’
“He took every penny of my salary. If I asked for money for lunch at work, he would give me exactly £3 for a Tesco meal deal […] I didn’t realise economic abuse was part of coercive control. I certainly didn’t realise it would have ramifications for the rest of my life”.
Wignall was sentenced to three years in prison for stalking and coercive and controlling behaviour in 2021. However, the long-term ramifications for his ex-wife are serious.
As Ruth said: “I have no savings, no home and my credit rating is destroyed because of the credit cards and loans he took out in my name.”
Financial abuse is not a widely discussed area, yet research by Experian suggests that 5.5 million women in the UK – around 1 in 5 – have been affected by it.
Read on to find out how you can spot the signs of financial abuse and support your clients.
Economic abuse can occur in many ways
Economic abuse is a legally recognised form of domestic abuse, defined in the Domestic Abuse Act. It involves the control of a partner or ex-partner’s money and finances, as well as the things that money can buy.
Economic abusers often:
- Prevent someone from being in education or employment
- Limit working hours
- Take wages or salary
- Refuse to let someone access a bank account
- Restrict how money is spent
- Provide an “allowance”
- Check receipts
- Insist all economic assets (for example, savings or a house) are in their name
- Steal or damage money or property
- Spend money needed for household items and bills
- Insist all bills, credit cards, and loans are in another individual’s name
- Build up debt in someone else’s name, sometimes without their knowledge.
Research reported by Experian shows that 1 in 11 women have had access to their bank account restricted by a current or ex-partner, and 1 in 13 have had credit taken out in their name without their consent.
1 in 9 women have even been stopped from accessing vital and personal belongings such as food, shampoo, or even medication – equivalent to almost 3 million people.
While most of the victims are women, it’s also worth remembering that anyone can experience financial abuse.
10 signs that your clients are victims of economic abuse
Spotting the signs of economic abuse can help your clients to escape an abusive partner. Surviving Economic Abuse reports that, sadly, economic abuse rarely happens in isolation and usually occurs alongside other forms of abuse, including physical, sexual, and psychological abuse.
This can be particularly dangerous as without access to money and the things that money can buy it is difficult for an individual to leave an abuser and access safety.
Here are some signs to look out for that might indicate a client is experiencing economic abuse:
- They may remain silent in meetings while the other partner does the talking
- They appear fearful or withdrawn
- Debt, such as loans or credit cards, are being taken out in their name
- They have been asked to change their will
- They instruct you to “speak to their partner”
- They do not understand or are unaware of transactions carried out in their name
- They never attend meetings about “joint” issues with you
- Their success angers or irritates the other party
- They present a form with their signature that is otherwise completed in someone else’s handwriting
- They have entrusted their financial affairs to someone else without a Lasting Power of Attorney in place.
Of course, examples like this may not always be cases of economic abuse as some clients may simply lack financial confidence.
However, if you are concerned for a vulnerable client’s financial wellbeing, it could still be worth taking the following steps.
Practical ways you can offer help if you feel a client is suffering economic abuse
If you suspect a client is experiencing economic abuse, you can start by expressing concern to them privately. Don’t ask too many questions but say that help is available and that they are not alone.
You can also encourage them to contact a helpline or an online support service and even offer to be with them while they make the call or text. Support services include:
- National Domestic Abuse Helpline (England) – A confidential, 24-hour service run by Refuge. Call on 0808 2000 247 or access the service online. Your client can set a codeword and send a message to the helpline to either contact them by phone or email. They can also contact an alternative number your client provides.
- Women’s Aid online chat – Your client can chat directly with a Women’s Aid support worker seven days a week, between 10 am and 6 pm.
- Contact a local service – There are many regional services available. This useful directory lets your client filter by location.
- Access online resources – The Surviving Economic Abuse website has a raft of useful information as well as a directory of support services.
Remember that economic abuse rarely happens in isolation. So, if you suspect a client is in immediate danger, they should call the police on 999.
Get in touch
If you have clients that would benefit from speaking to a financial planner, or you’d like to explore how you can work more closely with BlueSKY, please get in touch.
Email info@blueskyifas.co.uk or call us on 0118 987 6655.
Please note
This article is for general information only and does not constitute advice. The information is aimed at retail clients only.
