When Helping Becomes Harmful: Recognizing Financial Abuse

This episode focuses on a widespread but little-discussed form of financial abuse: adult children taking advantage of their parents’ resources. Jordan Hadfield, CFP and VP of Wealth Management at Smedley Financial, explains how well-intentioned help can escalate into repeated, costly demands that jeopardize retirement security. He describes common scenarios—struggling businesses, job loss, or recurring “just one more” requests—and emphasizes the advisor’s role as a financial bodyguard who can set boundaries, intervene with difficult conversations, and even speak to children directly. The takeaway: retirement accounts are not an emergency fund for family; seek objective guidance before sacrificing long-term stability.