Protection and wealth CPD course  

Guide to protection and vulnerability

  • Describe some of the challenges relating to vulnerable customers
  • Identify ways of handling vulnerability
  • Explain how signposting works
CPD
Approx.60min
Guide to protection and vulnerability
 Pexels/Liza Summer

Introduction

Vulnerability, in whatever form it takes, has become a big topic: for advisers, regulators and society at large.

It is no longer brushed under the carpet; people are encouraged to talk about it openly, and this includes advisers trying to assess a client's true situation.

As the Financial Conduct Authority has pointed out, vulnerability can come in many forms - emotional, financial, or relating to health, and can affect any number of people, even those that seem in robust good health.

But moving vulnerability further up the agenda presents its own challenges, and requires a certain set of skills that may not be automatically present with every financial adviser.

Protection policies provide another way to address some people's vulnerability, too. This guide aims to address some of these topics and is worth an indicative 60 minutes' CPD.

In this guide

CPD
Approx.60min

Please answer the six multiple choice questions below in order to bank your CPD. Multiple attempts are available until all questions are correctly answered.

  1. According to the first feature, the pandemic has had no impact on people's vulnerability, true or false?

  2. In the first feature, how does Peter Hamilton recommend treating people deemed to be 'vulnerable'?

  3. According to the second feature, why does being tied to a panel cause problems for some advisers with vulnerable clients?

  4. According to the second feature, which of the following is NOT signposting?

  5. According to the third feature, economic abuse is now a recgnised form of domestic abuse, true or false?

  6. According to the fourth feature which of the following is NOT a requirement of the FCA regarding vulnerability?

Nearly There…

You have successfully answered all the questions correctly, well done!

You should now know…

  • Describe some of the challenges relating to vulnerable customers
  • Identify ways of handling vulnerability
  • Explain how signposting works

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