The first lockdown earlier this year brought advisers' vulnerable clients into greater focus. After methods and frequencies of communication have developed throughout this year, Stephen Little talks to a number of advisers about how they are helping vulnerable clients as we enter a second national lockdown...
The Covid-19 crisis has had a huge impact on society and in response many financial advisers are adapting their services after learning from the first nationwide lockdown. The FCA recently published guidance for financial advisers to help vulnerable customers and has completed a consultation, which is due to be published in the winter. It defines a vulnerable consumer as someone "who, due to their personal circumstances, is especially susceptible to detriment, particularly when a firm is not acting with appropriate levels of care". The spectrum is so broad, in fact, that the watchdog ...
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