How advisers can best meet the needs of vulnerable clients

The current cost of living challenge is redefining the vulnerability of individuals. Research last year by the Financial Conduct Authority (FCA) found that 24.9 million UK adults,  almost 50% of the UK population, could be classed in one or more ways as ‘vulnerable'. This broad definition of vulnerability can make it difficult to identify even with regular face-to-face contact, especially if the client chooses not to disclose information, suffers intermittently or develops coping mechanisms to mask signs. Advisers need to be able to manage this. With the recent Consumer Duty deadline,...