The management of the financial assets of older people is increasingly important in the current policy context. Competing interests from the state, the market and the family regarding the appropriate use of these assets suggest that non-professional managers are assisting older people in a complex environment. This paper, based on a national prevalence study and an in-depth study, explores the nature and extent of asset management on behalf of older people. It examines the role of legal provision for substitute decision-making in these processes and concludes that the current provision is insufficient to protect older people from financial abuse and support carers to manage assets well. This paper proposes that more broadly based interventions are required in a complex environment of competing interests. Such interventions include attitudinal change, improved financial literacy, information and support for older people and informal asset managers and improved monitoring and support for substitute decision makers.