Why wealth won't insulate against financial vulnerability

Health events, life events, resilience and capability

clock • 4 min read

With Consumer Duty creeping closer, Tim Farmer addresses the widespread misconception that it isn’t possible for wealthy individuals to be at risk of financial vulnerability and shares his insight on how advisers can ensure all clients are being appropriately supported...

Financial vulnerability has never been a hotter topic. With Consumer Duty taking effect in just a matter of weeks, advisers will soon be required to demonstrate that they are identifying and supporting each and every client at risk of financial vulnerability. This raises a number of complex challenges. After all, most advisers lack the clinical background and expertise to recognise the subtle signs of vulnerability. A particularly significant hurdle, however, is that misconceptions abound about who, exactly, can be at risk. Specifically, many of the advisers we speak with at Comentis ...

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