Vulnerability – Changing Perceptions

Presented by

Martin Lines; Karl Steadman

About this talk

If ever there was a time to focus on how we improve the experience and outcomes for the most vulnerable, surely now is that time. The FCA has highlighted the importance of doing the right thing for vulnerable customers and deeply embedding this into firms. Whilst we’ve been socially-distanced, new guidance has been issued. What can we learn from recent experience and the regulator’s latest thinking in this area? The recent pandemic has highlighted some fundamental initial steps that need to be adopted in a crisis, especially with the most vulnerable. It’s equally important to maintain a deep understanding of the vulnerability ‘triggers’ that need to be revisited. As we look forward beyond the pandemic, it’s essential that we capture what has been learned and the positive ways in which firms have responded so far. The purpose of the vulnerability agenda is to build a genuine culture that will promote good outcomes to consumers. It’s important that we respond to the current needs of clients, but also establish practices that can be developed over the long-term. By attending this session, you’ll be able to: • Identify the initial steps in working with vulnerable clients. • Recognise the key themes of vulnerability and learnings from a major crisis. • Review the key steps from the FCA’s guidance on vulnerability. • Discover how to develop skills and capability in this area.
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We are a specialist UK financial services group focusing on attractive segments of the UK retirement income market. The Group is a leading and established provider of retirement income products and services to individual and corporate clients.