A week of fresh, focused content to help you to succeed in meeting the needs of vulnerable clients.
Despite the increasing importance of identifying and addressing customer vulnerability from not only a regulatory but also social perspective, it can still be a difficult area to approach with clients. We also understand the breadth of challenges posed by translating the principles of the guidance around working with vulnerable clients into practical processes.
Below is a sample of the refreshed, or new and exclusive content, we're offering to our Members. To find out more about the support on offer from SimplyBiz, please don't hesitate to get in touch.
Exploring the Mortgage Industry Mental Health Charter
In this fascinating session, Jason Berry, Group Sales and Marketing Director at Crystal Specialist Finance, and Martin Reynolds, CEO of SimplyBiz Mortgages, discuss the Mortgage Industry Mental Health Charter, launched in October 2021.
Jason and Martin cover the reasons behind the launch of the charter, how their work has developed, practical guidance to support the good mental health of your employees and how advisers and brokers can get involved.
To find out more, and sign the charter, visit www.mimhc.co.uk
Protection focus on vulnerability
As you know, the issue of working with clients with vulnerable characteristics is relevant across all business areas. In today’s exclusive webinar, SimplyBiz Head of Protection Services, Emma Vaughan, talks to Jamie Page and Jack Southcott of The Exeter about ways in which the protection sector is working to support advisers dealing with vulnerable clients.
The Exeter was the first insurer to adopt the Financial Vulnerability Taskforce’s Charter, and Jamie and Jack discuss why this was such an important move for them, their research into how the market operates for vulnerable clients, and practical examples of how advisers can sharpen up their processes.
Regulation, Consumer Duty and vulnerability
Mark Greenwood, Director of Compliance Services, Janice Laing, Managing Director of Compliance First, and Karl Dines, Head of Business Consultancy, take a deep dive into regulatory activity around vulnerable clients, including what the implementation of the Consumer Duty guidance will mean to you, your processes, and your clients.
*30 mins of structured CPD*
By the end of this session delegates will be able to:
- Describe the regulators approach to client vulnerability
- Identify the key drivers of client vulnerability
- Summarise how the FCA’s new Consumer Duty incorporates client vulnerability
A practical response to vulnerability in later life
In this session, Tony Miles of the Financial Vulnerability Taskforce works through the regulator’s guidance on vulnerable clients and what it looks like in practical terms, using case studies and tried and tested best practice examples.
Vulnerability: Changing perceptions
If ever there was a time to focus on how we improve the experience and outcomes for the most vulnerable, surely now is that time. The FCA has highlighted the importance of doing the right thing for vulnerable customers and deeply embedding this into firms. Martin Lines and Karl Stedman of Just as, what can we learn from recent experience? And what is the regulator’s latest thinking in this area?
Vulnerability: Award winning ideas (part one)
69 mins CPD
The FCA’s finalised guidance on consumer vulnerability, published in 2021, sets out some key principles for designing a service for clients in vulnerable circumstances. But how do you apply these in reality?
In this new webinar, two category winners in the recent Just Group Vulnerable Customer Awards will discuss their ideas on how to turn guidance into better outcomes for vulnerable customers.
Join us as Kathryn Knowles of Cura Financial Services and Stuart Wilson from Air Group share their thoughts about vulnerability challenges and some of the award-winning initiatives they’ve put in place.
Hosted by Care Specialist, Graham Duffy, and Just’s Head of Customer Experience, Jenny Cadman, this webinar will be followed by time for your questions.
By attending, you’ll be able to:
- Recognise some key areas of good practice regarding vulnerability.
- Understand process changes that can help improve support for vulnerable customers.
- Discuss the role of technology in helping to recognise and record potential vulnerability.
Vulnerability: Award winning ideas (part two)
60 mins CPD
Join us as Nicholas Hamilton from Mazars Financial Planning and David Gunn of Richstone Park Financial Planning will share how they’re meeting vulnerability challenges and the award-winning initiatives they’ve put in place.
They’ll discuss the practical steps a firm can take to implement vulnerability policy, from governance to training and beyond. And they’ll look at what this means to clients who find themselves in difficult and challenging circumstances.
Martin Lines and Graham Duffy will build on some of the points raised by our guests and introduce some specific vulnerability resources.
By attending, you’ll be able to:
- Recognise key principles, systems and training that firms should put in place around consumer vulnerability.
- Discuss the importance of eliciting and recording information to achieve better outcomes for vulnerable clients.
- Explore how to support clients dealing with local authorities and other organisations during times of vulnerability.
Co:mentis - A practical guide to identifying vulnerability in equity release customers
This webinar will be led by Tim Farmer, Clinical Director and Co Founder at Comentis, and Richard Merrett, Head of Strategic Development, SimplyBiz Mortgages, who will focus exclusively on the challenges faced by equity release advisers in identifying and supporting vulnerable customers.
With the regulator’s spotlight firmly on vulnerable clients, it has never been more important to be able to identify all clients who may be deemed as vulnerable.
However, it is no longer enough to class all equity release borrowers as vulnerable due to their age, with many older borrowers experiencing a number of interlinked vulnerabilities.
The webinar will provide practical guidance and tips to help you understand the full range of vulnerabilities experienced by equity release borrowers and will cover.
- How to identify vulnerabilities that could exist for ER borrowers and overcome cognitive bias
- How to have ’that’ discussion and talk about vulnerability with clients
- How to support vulnerable clients – 2 case studies, bereavement and dementia
Financial Vulnerability: How to ask those awkward questions
In this short video, Tim Farmer, Co-founder and Clinical Director at Comentis, explores the challenges around having ‘awkward’ conversations with clients about vulnerability, and how to overcome them.
Five ways financial advisers can assess mental capacity in vulnerable customers
This useful and concise guide outlines several useful steps in assessing mental capacity in potentially vulnerable clients.
- Five ways financial advisers can assess mental capacity in vulnerable customers
Mental health masterclass (coming Friday!)
In the first half of this programme, Emma Vaughan, SimplyBiz Head of Protection Services, will be joined by specialists from The Exeter to discuss the ABI’s Mental Health Standards, and how they can be observed with clients. Next, Martin Reynolds, CEO of SimplyBiz Mortgages and Jason Berry of Crystal Mortgages will discuss the Mortgage Industry Mental Health Charter, why it was so necessary, the work it undertakes and their plans for development in the future.