Consumer Duty - extra care in later life

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Presented by

Graham Duffy

About this talk

The Consumer Duty makes it clear that all clients should receive good outcomes, including those in vulnerable circumstances. Whilst vulnerability isn’t confined to those in later life, it is important to understand and respond to characteristics and circumstances that may be present. There are many things a firm can do to protect clients from foreseeable harm in later life. Perhaps one of the most obvious is to ensure that a Power of Attorney is in place should it be needed. The duties of attorneys and the role they play needs to be clearly understood. Capacity can fluctuate, so knowing how much assistance is needed and how this can vary depending on the specific decision is important. There are a number of safeguards that can be put in place and advisers with a good knowledge in this area can really help to create a supportive environment for clients and their families. In this session, Graham Duffy speaks to Tish Hanifan about ways to identify areas of vulnerability and how clients and families can be supported in later life. Learning Objectives: • Recognise the main duties of attorneys • Understand how family members may be involved in the advice process • Discuss the nuances of capacity and client decision-making CPD: 45 minutes
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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.