October is Intimate Partner Violence (IPV) Awareness Month.
This month, we shine a light on a silent epidemic that affects people across all professions, incomes, and social circles — including physicians.
Intimate Partner Violence (IPV) is not limited to physical harm. It also includes emotional, psychological, sexual, and financial abuse — and it affects not only the physicians you serve, but also their friends, family members, and patients.
For financial advisors, this awareness matters deeply. Because when money becomes a weapon of control, advisors are often the first to see the warning signs.
This information is for educational purposes only. It’s not intended as legal or compliance advice.
The Hidden Epidemic Among Physicians
It’s easy to assume that doctors, because of their education and income, are insulated from abuse. But research says otherwise.
A review of physicians as IPV victims found 7–24% of women physicians and 6–10% of men physicians have experienced intimate partner violence — rates nearly identical to the general population, where roughly 1 in 4 womenand 1 in 10 men are affected.
Doctors aren’t immune — and sometimes, the very factors that make them successful also make them vulnerable.
Physicians work long hours, often under chronic stress. Many outsource financial management to their partners as an act of efficiency or trust. But when that trust is exploited, financial control can become a form of malignant dominance — restricting access to accounts, monitoring spending, or forcing financial dependence.
When Financial Abuse Is Part of the Picture
Financial abuse is a form of intimate partner violence where one partner uses money to control, intimidate, or isolate the other. It’s present in nearly 99% of domestic violence cases.
It can look like:
- Cutting off access to accounts or credit cards.
- Forcing joint accounts and requiring “permission” to spend.
- Secretly opening debt in the victim’s name.
- Sabotaging employment or business opportunities.
- Intercepting paychecks, mail, or financial statements.
It’s not about love — it’s about power and control.
And while it’s difficult for anyone to recognize financial abuse, it can be especially hidden among physicians, who are often high earners but time-poor, overextended, and socially conditioned to appear in control.
Why This Matters for Financial Advisors
As a financial advisor, you’re not just managing assets. You’re managing access — access to choice, independence, and safety.
When financial abuse is occurring, your vigilance and ethical action can make the difference between a client losing everything and reclaiming their autonomy.
This isn’t an abstract issue. It’s something you may encounter more often than you think.
Red Flags for Financial Abuse
Among Physician Clients
- Partner insists on attending every meeting and speaking for the client.
- Sudden changes in account access, passwords, or mailing addresses.
- Frequent “family emergencies” that deplete cash reserves.
- New credit accounts or loans in the client’s name.
- Career or lifestyle changes that don’t align with previous goals.
- Client appears anxious or apologetic when discussing spending.
Among Aging Parents or Elders
- New “friend” or caregiver suddenly managing finances.
- Large unexplained withdrawals or wire transfers.
- Beneficiaries or powers of attorney changed abruptly.
- Missed bills or property taxes despite available funds.
- Confusion or inconsistencies about money.
The National Council on Aging estimates elder financial exploitation costs Americans $28.3 billion each year — and advisors are often the first professionals positioned to notice it.
Why Physicians Are Especially at Risk
Physicians are accustomed to authority and control in their professional lives — but that control can erode at home.
They may rationalize financial dependence as practicality (“My partner handles the bills”) or as a way to avoid conflict. Over time, this can morph into isolation and financial imprisonment.
What makes it worse is shame. Doctors often see themselves as helpers, not as victims. Admitting financial or relationship abuse can feel like a professional failure.
That’s why awareness from advisors matters so much. You don’t have to diagnose abuse — just recognize when something doesn’t make sense and approach it with compassion.
What Financial Advisors Can Do
You don’t need to be an expert in domestic violence to make a meaningful difference.
Here’s how to recognize, respond, and protect your physician clients within compliance.
Spot It
Awareness is your first line of defense.
When something feels off — in tone, behavior, or transactions — don’t ignore it.
“I might be overstepping, but I’ve noticed some unusual changes. Would it be okay if we take a moment to make sure everything is still aligned with your goals?”
This phrasing is simple, respectful, and opens a safe door for disclosure.
Stabilize It
If you suspect abuse:
- Ask to meet privately with the client.
- Avoid using the word “abuse.” Focus on safety and financial protection.
- Offer confidential resources such as the National Domestic Violence Hotline (thehotline.org).
- Confirm safe contact details.
- Document only facts — dates, transactions, and observations.
Safeguard It
Use your compliance tools:
- FINRA Rule 4512: Add or update a Trusted Contact Person.
- FINRA Rule 2165: Place a temporary hold (up to 15 business days) if you suspect exploitation.
- NASAA Model Act: Many states require reporting to Adult Protective Services (APS).
- For elder clients, consult DOJ Elder Justice guidance for state statutes.
These steps protect not only the client but also you, your firm, and your fiduciary integrity.
Support It
If the client discloses fear or abuse:
- Validate without judgment.
- Connect them with local IPV organizations or social services.
- Offer to review their accounts for unauthorized transactions or debt.
- Encourage them to create a confidential financial safety plan.
People involved in IPV can protect themselves — and their assets — from perpetrators.
Awareness is the first step toward empowerment.
Fiduciary Duty, Redefined
Being a fiduciary means putting your client’s best interests first — even when those interests include their safety.
Recognizing financial abuse isn’t “beyond your scope.”
It’s at the core of what you do: protecting clients’ financial autonomy.
When you help a client reclaim access to their accounts, you’re giving them something far more valuable than investment returns. You’re restoring dignity, safety, and control.
Free Resource: Financial Abuse Red Flag Checklist for Advisors
To help you act confidently and compassionately, I’ve created a free downloadable checklist.
It includes:
- Common red flags among physician and elder clients
- Sample scripts for safe conversations
- FINRA & NASAA compliance guidance
- Resource links for confidential help
Download your checklist: EngagingDoctors.
Keep it in your CRM or compliance binder — it may one day protect a client you deeply care about.
Final Thoughts
October is IPV Awareness Month.
It’s a time to remember that abuse is not always visible — and it’s never about love. It’s about malignant control.
Physicians, their families, and even their patients can be affected. And because money often becomes the weapon of choice, financial advisors are uniquely positioned to help.
You can’t heal trauma. But you can help clients protect their assets, regain financial independence, and take their first steps toward safety.
Sometimes, the greatest act of service you can provide isn’t financial growth —
it’s helping someone reclaim their power to choose.
Resources
- National Network to End Domestic Violence – About Financial Abuse
- American College of Surgeons – Silent No More: Intimate Partner Violence and Our Surgical Colleagues
- National Council on Aging – Get the Facts on Elder Abuse
- FINRA Rule 4512 & 2165 – Trusted Contact Person & Financial Exploitation of Specified Adults
- NASAA Model Act – Protect Vulnerable Adults from Financial Exploitation