With the FCA sharpening industry focus on vulnerability, we’re keen to provide practical support to help you meet your obligations in this area and have teamed up with SOLLA to produce new online training: Consumer Vulnerability In Later Life.

The online training tool went live on 3 June 2019 and, by the end of July last year, over 1,100 people had registered to use it.

Also the FCA's latest paper on vulnerable customers, Guidance Consultation 19/3, identified the tool as an example of good practice that could help people improve their skills and capability.

Benchmark and boost your vulnerability knowledge

What percentage of your clients do you record as vulnerable? Less than 5% is typical, however the FCA estimate that 50% is closer to the mark (see our report Dealing with vulnerable customers: the industry response).

The training is designed to help you close this gap and equip you with an in-depth understanding of:

  • What constitutes vulnerability
  • How to identify when someone may be vulnerable
  • How to change working practices to ensure firms deliver extra care and support for clients when it is needed

Take a look at the training module It takes one hour and, if you pass the test, you’ll gain the Certificate in Older and Vulnerable Consumer Care as evidence of your CPD and training.