FCA: 49% of UK adults financially vulnerable

FCA Financial Lives 2024 survey

Cameron Roberts
clock • 3 min read

The Financial Conduct Authority (FCA) has released its Financial Lives 2024 survey which took a snapshot of consumers’ attitudes and financial circumstances.

The survey, which quizzed nearly 18,000 UK adults in 2024, showed that 49% of UK adults showed characteristics of financial vulnerability, down from 52% from May 2022. The regulator defined four characteristics of vulnerability, which were: poor health, negative life events, low resilience and low capacity. MorganAsh managing director Andrew Gething said: "When you consider these important findings, it will simply not wash if your firm still says that you have a small percentage of vulnerable customers – or even none. "We know from other FCA research that this is a commonly held vi...

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