Why it is so important to understand the needs of the vulnerable
The Financial Conduct Authority (FCA) has recently published guidance on vulnerable clients – to help financial advisers to identify and understand the needs of the vulnerable.
The coronavirus pandemic may have brought a new wave of vulnerable customer issues to the fore.
People who were not previously vulnerable may now feel that they need additional help and those who were already vulnerable may find that their situation has been exacerbated by the crisis.
So, what can financial advisers learn from the coronavirus pandemic about working with vulnerable clients?