Advisers 'underestimate' number of financially vulnerable clients

'Be the safe pair of hands they need'

Julia Bahr
clock • 3 min read

Financial advisers are largely underestimating the number of clients that could qualify as vulnerable under the Financial Conduct Authority's (FCA) guidelines, recent research from Technical Connection, part of St. James's Place (SJP), has shown.

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...

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

How economic abuse manifests itself in pensions, mortgages and protection

How economic abuse manifests itself in pensions, mortgages and protection

Second in a three part series

Shelley Read
clock 11 November 2026 • 5 min read
Celtic FP founder launches online admin platform for advisers

Celtic FP founder launches online admin platform for advisers

‘Developed by people who understand the industry’

Jenna Brown
clock 10 November 2026 • 2 min read
Budget BADR changes could drive flurry of advice M&A but unlikely to hit valuations

Budget BADR changes could drive flurry of advice M&A but unlikely to hit valuations

Firms urged not to rush sales

Isabel Baxter
clock 09 November 2026 • 4 min read