The important issue of financial vulnerability continues to be a hot topic, particularly in light of ongoing economic uncertainty and rising costs. With the FCA estimating an incredible 50% of all UK adults could be at risk of financial vulnerability, the issue is only going to grow.
Writing in International Adviser, Warren Vickers, Managing Director of Tenet Compliance Services, discusses some of the most important issues facing advisers when it comes to vulnerable clients. These issues include problems with definition, how to identify hidden vulnerability traits, and why technology can provide solutions to some of the most difficult problems.
Helping advisers better understand this very sensitive and complicated topic, we continue to create various guidance and support. We also recently held a webinar in partnership with Comentis on the topic of identifying financial vulnerability in clients. This interesting and informative webinar can be viewed here.