Why engaging directly is key to identifying customer vulnerabilities

'Engaging directly on vulnerability is new and still feels quite alie'

clock • 4 min read

Andrew Gething shares his insight on vulnerable clients and explains why advisers should take a direct approach...

Identifying and understanding the vulnerabilities of customers became a regulatory requirement in February 2021 for firms. Consumer Duty has renewed this focus and expanded the need to understand and monitor consumer vulnerabilities. Even so, many firms are still trying to get to grips with just how they identify their vulnerable customers. The Financial Conduct Authority's Financial Lives survey reports that around 50% of all UK adults are vulnerable at any one time. A recent study by Boring Money suggests that, in the advised sector, 22% of customers display at least one vulnerable...

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 Your Business

IFAs confident on business outlook with focus on growing client base and AUM

IFAs confident on business outlook with focus on growing client base and AUM

Doing so by strengthening social media presence and marketing

Isabel Baxter
clock 17 September 2025 • 2 min read
All the advice firm acquisitions that have taken place in 2025

All the advice firm acquisitions that have taken place in 2025

Keeping track of the ongoing consolidation of the advice industry

Professional Adviser
clock 15 September 2025 • 3 min read
Editor's view: Best advice employers and talent hurdles

Editor's view: Best advice employers and talent hurdles

The editor's Friday Night Takeaway from 12 September

Jen Frost
clock 12 September 2025 • 3 min read