Advisers increasing support for vulnerable clients - Prudential

'Monitoring concerning behaviour'

Sophie King
clock • 2 min read

Advisers are increasing support for vulnerable clients and training staff to spot signs of impairments, in response to growing concern about the impact of cognitive decline, according to Prudential research.

Almost three-quarters of advice firms now have specific rules for advising vulnerable clients and are increasing their support for them as the sector responds to the growth in inquiries about later-life advice, the Pru's numbers suggest. More than two-in-five of the 101 firms surveyed by Pollright for the insurer said they now monitor for signs of unusual or concerning behaviour among clients, in response to growing concern about the impact of cognitive decline, while nearly half of firms claimed they now train staff to spot signs of cognitive impairment. Of the firms questioned, one-...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Hitting milestones later in life could impact when people seek advice

Hitting milestones later in life could impact when people seek advice

People will likely be seeking financial advice later

Laura Suter
clock 19 April 2024 • 3 min read
Regulatory pressures taking a toll on industry stress levels

Regulatory pressures taking a toll on industry stress levels

'Regulatory pressures are the first thing on my mind’

Sahar Nazir
clock 19 April 2024 • 1 min read
Advisers blast FCA funding requirement of £755m 'inexorable'

Advisers blast FCA funding requirement of £755m 'inexorable'

‘I don’t really know what value I’m getting from the FCA – if any’

Hope Coumbe
clock 19 April 2024 • 2 min read