Vulnerable client processes: What the FCA wants from advisers

Proactive approach in identification and support

clock • 4 min read

Alexander McGregor and Kris Armstrong explore what the regulator actually wantsfrom advisory firms' in terms of their vulnerable client processes...

In its December webinar on Consumer Duty, the Financial Conduct Authority (FCA) reminded firms that the Duty makes an explicit reference to firms paying attention to the needs of customers that have characteristics of vulnerability. In line with these expectations, the regulator also recently announced through its ‘regulatory initiatives grid' publication that it will be reviewing vulnerable customers outcomes in the first quarter of this year, with a post-implementation report on treatment of vulnerable customers expected towards the end of the year. Whilst this review will cover financ...

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