Vulnerable client processes: What the FCA wants from advisers

Proactive approach in identification and support

clock • 4 min read

Speaking to COVER's sister title, Professional Adviser, Alexander McGregor and Kris Armstrong explore what the regulator actually wants from advisory firms' in terms of their vulnerable client processes.

In its December webinar on Consumer Duty, the Financial Conduct Authority (FCA) reminded firms that the Duty makes an explicit reference to firms paying attention to the needs of customers that have characteristics of vulnerability. In line with these expectations, the regulator also recently announced through its ‘regulatory initiatives grid' publication that it will be reviewing vulnerable customers outcomes in the first quarter of this year, with a post-implementation report on treatment of vulnerable customers expected towards the end of the year. Whilst this review will cover financ...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Regulation

IPT set for another record year

IPT set for another record year

Taxation hits £6.78bn in FY25/26

Cameron Roberts
clock 19 December 2025 • 2 min read
Strong year predicted for IHT receipts

Strong year predicted for IHT receipts

£5.8bn for first eight months of 2025/26

Jen Frost
clock 19 December 2025 • 2 min read
FCA responds to Which? super complaint

FCA responds to Which? super complaint

Expansion of insurance work in 2026

Cameron Roberts
clock 18 December 2025 • 2 min read