Last week Apricity Compliance attended an FCA webinar on vulnerable clients. Here, Christian Markwick, Head of Adviser Support, tells you all need to know.

While assessing vulnerability has been a requirement for many years, the FCA only launched its finalised vulnerability guidance in January 2021.

Its aim is to ensure that all customers are treated fairly, and that vulnerability policy is embedded into firms’ culture and procedures.

The key focus of the paper itself is to ensure vulnerable customers have more positive outcomes than they currently do. The guidance is underpinned by the following principles:

  • skill, care and diligence
  • management and control
  • customers’ interests
  • communications with clients
  • customer: relationships of trust

Read more in our NMA article here.

Download our vulnerability whitepaper here.