The STEP Academic Community



How do you identify if a client’s lack of decision-making capacity is impacting on their ability to independently make informed financial decisions? How do we support advisors who are unsure of a client’s decision-making capacity?

The research project Financial Decision-Making Capacity – A Challenge for Advisors will empirically assess various internationally recognized screening approaches, including simple cognitive tools and conceptual approach to determine the financial decision-making capacity of consumers of financial products and services. Our initial research phase will involve the application of screening approaches to 600 Australians across all ages who are faced with a variety of financial decisions with the aim of identifying a better method of attesting to client financial decision-making capacity. Results will be used to develop industry guidance and recommendations for legislative reform and will be disseminated through workshops, conferences as well as industry and academic publications.

You can help support this project by participating in our project advisory panel or providing financial support. For more information email

Through the collaboration of practitioners and academics internationally the Academic Community aims to advance knowledge in areas of interest to those working in the areas of wealth succession and management of private capital. Our research projects are cross-discipline and multi-jurisdictional. The Academic Community links STEP, universities, and industry to facilitate knowledge transfer and the application of innovative practice. This supports STEP’s mission to educate professionals and promote high professional standards within its membership