Why advisers say Consumer Duty will help vulnerable clients

There are about 28 million financially vulnerable adults living in the UK, according to data published by the Financial Conduct Authority (FCA) last year. Before the pandemic struck, that figure was less than 4 million the data also showed. The regulator determines vulnerable customers as those who need special consideration due to health, life events, financial resilience, and capability. Chapters Financial Chartered financial planner Keith Churchouse says the issue of vulnerable clients has been a significant topic in recent times and heightened further by the real effects of the...