In response to the FCA's guidance on vulnerable customers, the Personal Finance Society has told advisers that rising to the challenge of serving vulnerable clients cannot be a "one-off process".
PFS chief executive officer Keith Richards (pictured) said there is no single approach to take for vulnerable clients because "vulnerability comes in many forms". On Tuesday (23 July) the regulator published a 41-page piece of guidance for businesses on how to treat vulnerable customers better. In the paper, the Financial Conduct Authority (FCA) said it wanted to see firms doing the right thing for vulnerable consumers and have that embedded in their business culture. The main aim, it said, was for firms to be more focused on ensuring outcomes for vulnerable customers were at least as...
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