Advisers 'underestimate' number of financially vulnerable clients

The survey, conducted by Ad Lucem of 100 financial advisers, found that on average advisers estimate 18% of clients would qualify as vulnerable. However, research from the FCA showed that the number of UK adults considered to be financially vulnerable is 28 million, a figure that was less than 4 million before the pandemic started, whilst advisers estimated 11.7 million, creating a vulnerability gap. Financial advisers play an important part in restoring the nation's financial health by supporting those vulnerable clients in the best way possible, the regulator said. According to T...