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Getting it right with vulnerable clients


Getting it right with vulnerable clients
The FCA has upped its focus on how firms deal with clients in vulnerable circumstances, but the matter is often far from black and white
By
Amanda Newman Smith
Protecting the vulnerable is a characteristic of any decent society. Understandably, the Financial Conduct Authority wants advice firms to treat clients in vulnerable circumstances both fairly and consistently. But how should firms achieve this through the processes they put in place, while recognising the varying needs of individuals?
The FCA’s view is that: “A vulnerable customer is someone who, due to their personal circumstances, is especially susceptible to harm particularly when a firm is not acting with appropriate levels of care.” ....

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