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...

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 Consumer Duty

Will sticking with the same CIP approach work under Consumer Duty?

Will sticking with the same CIP approach work under Consumer Duty?

'Consumer Duty has made the regulatory landscape even tougher'

Robert Vaudry
clock 26 July 2024 • 3 min read
Financial planning firm joins VouchedFor's Consumer Duty system

Financial planning firm joins VouchedFor's Consumer Duty system

Radiant Financial Planning will use Elevation to monitor client feedback

Isabel Baxter
clock 25 July 2024 • 1 min read
Software business data reveals scale of Consumer Duty efforts

Software business data reveals scale of Consumer Duty efforts

Dynamic Planner finds reports up 100%

Jen Frost
clock 22 July 2024 • 1 min read