Customer vulnerability

Customer vulnerability continues to be a priority for the FCA, and is a key area of focus in their 2021/22 Business Plan.

We’ve designed a range of support items to help financial intermediaries raise staff awareness and understanding of the topic, and develop bespoke vulnerability policies that are appropriate and effective.

The vulnerability spectrum

In Guidance Consultation GC20/3, the FCA altered their approach to describing vulnerability, moving from categories of vulnerability to a spectrum of risk.

Benchmark your knowledge

We’ve teamed up with SOLLA to produce a popular online training module: Consumer Vulnerability In Later Life. It’s free to use, takes around an hour to complete and offers a CPD certificate for successful completion.

How effective is your policy?

How effective is your vulnerability policy, and how do you know? We can help you assess the effectiveness of current activity and identify potential areas for improvement.

Helping clients experiencing vulnerability

Identifying when clients are experiencing vulnerability is important, but only part of the process. These support items and organisations can help you respond in the most appropriate way.

Assessing and recording vulnerability

A key part of any client vulnerability policy is the assessment and recording of their vulnerability. But how can you ensure that it’s done consistently?

We’ve developed a Client Wellbeing Checklist to help make this easier.

The regulator’s perspective

Protecting the interests of vulnerable clients is an FCA priority, a key area of focus in their 2021/22 Business Plan and the subject of recent Guidance Consultation papers.