Investment and Retirement Focus | Summer issue

ARE YOU up TO SPEED ON vulnerability? Protecting vulnerable consumers is a key priority for the FCA and vulnerability, whether actual or potential, can affect anyone – regardless of wealth or age.

Latest thinking from FCA

How many clients do you record as vulnerable?

FCA EXPECTATIONS: 50% customers could be vulnerable at some stage.

The FCA’s Guidance Consultation 19/3 highlights three key areas for f irms to focus on: 1 Understanding the needs of vulnerable consumers 2 Developing skills and capability of staff 3 Taking practical action

66% FIRMS REPORTING: Less than 5% customers are vulnerable*

40% FIRMS REPORTING: Less than 1% customers are vulnerable*

(*Source: Just report “Dealing with vulnerable customers: the industry response” , Jan 2019).

We’ve teamed up with the Society of Later Life Advisers to produce free online training that’s designed to give you: 1 An in-depth understanding of what constitutes vulnerability, how to identify it and adapt working practices appropriately. 2 A test to help you and colleagues evidence your knowledge . 3 One hour of CPD and the Certificate in Older and Vulnerable Consumer Care if you pass the test. BENCHMARK AND BOOST YOUR VULNERABILITY KNOWLEDGE

Great reaction to the training:

Surprised at who would be classed as vulnerable and you don’t always link it to the situation you

are dealing with.”

Recognised by the FCA as an example of good practice in their latest paper on vulnerable customers, GC 19/3.

If you’ve dealt with someone for years

you would take for granted everything’s always fine.”


View our recent webinar ‘Who are you calling vulnerable?’ on-demand here:


0345 302 2287 Lines are open Monday to Friday, 8.30am to 5.30pm

Please note your call may be monitored and recorded and call charges may apply.



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