With Consumer Duty taking effect in just a few months, Tim Farmer explains the change in mindset required for advisers to ensure they are adequately supporting their most vulnerable customers
As Consumer Duty edges closer, the outcomes that advisers provide for vulnerable customers will soon be placed under intense scrutiny. To ensure they're prepared, the vast majority are now implementing strategies to consistently identify and support those at risk. But as encouraging as this might be, we've found through our work at Comentis that many are struggling to think about vulnerability in a way that will enable them to provide adequate support. Specifically, many of those who come to us for help are misunderstanding the difference between a vulnerability and a vulnerable circumst...
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