Supporting vulnerable customers means delivering financial advice with empathy, clarity, and confidence, says Steph Willcox, Head Actuary, Dynamic Planner.
As financial professionals, our role is built on trust. For vulnerable customers, that trust is not just a foundation, it’s a lifeline. The FCA is increasingly putting the spotlight on ensuring that these clients receive advice that is not only compliant, but compassionate and clear. The advice process must evolve to meet their needs, and communication—both written and verbal—must do more than inform. It must empower.
The advice process: Starting with empathy
At the core of working with vulnerable customers is a human approach. The advice journey should begin with open listening. Before we talk products or plans, we need to understand their situation, goals, fears, and the barriers they face to understanding or action.
Vulnerability assessments, like our Financial Wellbeing Questionnaire, can support this process, but we need to go further. Consider whether the client is experiencing temporary vulnerability (such as a recent bereavement) or if it’s a permanent condition (such as a learning difficulty). The paraplanner’s role is to adjust accordingly, tailoring not just the advice, but the pace and format of the entire process.
It also means documenting how those adjustments were made. Regulators want to see evidence of reasonable steps, but more importantly, it demonstrates that we’re meeting clients where they are.
Written communication: Accessibility and clarity
A core deliverable in the advice process is the written report. This is where clarity matters most, and where many advisers unintentionally lose vulnerable customers. Too often, reports are full of industry jargon, complex charts, and dense text. For a customer already struggling with cognitive overload or anxiety, this can be alienating and ineffective.
The Government recommends that firms assess the Flesch-Kincaid Reading Ease of their reports. You can do this through standard word processing software (in Word this can be found under Spelling and Grammar, “Document Insights”.) Ideally you want the Flesh-Kincaid grade to be below 6 – Primary school age. That may seem low, but clarity for the vulnerable often improves understanding for all. Using short sentences, active voice, and everyday language is not “dumbing down” – it’s opening up.
Accessibility must also be built in visually. Reports should be formatted with:
- Larger font sizes (minimum 12pt, ideally 14pt for headings)
- High contrast text, avoiding red-green combinations which can be unreadable for colour-blind users
- Clear section headings, white space, and bullet points to help navigation
- Alt-text for diagrams, charts, or images in digital reports (remembering that colours used on charts should also be accessible for colour-blind users)
Many firms now offer accessible formats – such as large print, audio recordings, or even braille – but uptake can be low unless these options are actively offered.
Verbal communication: Personal and powerful
When it comes to verbal advice – whether face-to-face or via recordings – tone and delivery are critical. Vulnerable clients may feel embarrassed or overwhelmed. A rushed conversation can erode trust, while clear, calm, paced communication can rebuild it.
When meeting in person, remember that body language speaks as loudly as words. Be aware of cognitive fatigue: limit sessions to manageable durations, take breaks, and recap key points regularly.
More advisers are now offering video or voice recordings of meetings. This allows clients to revisit advice in their own time or with a trusted relative. When providing recordings, it’s best practice to also supply a transcript and a summary of key actions or decisions.
Some clients – particularly those with auditory processing issues or memory difficulties – find benefit in a three-layered communication approach:
- The in-person meeting (interactive, relational)
- The written summary report (referenceable, structured)
- The follow-up call or recording (reinforcement, reassurance)
This approach, while time-intensive, can be transformative for understanding and client satisfaction.
A Culture of inclusion
Supporting vulnerable clients is not a checkbox exercise. It’s about culture. Advisers and firms must commit to continuous learning, reflective practice, and adaptation. Tools like Dynamic Planner help advisers integrate risk suitability with soft skills. But it’s the human connection – the patience, the empathy, the willingness to go the extra mile – that turns compliant advice into good advice.
When we design processes and communication strategies that work for the most vulnerable among us, we don’t just improve outcomes – we do justice to our profession.
Main image: dave-webb-Ny7UDRl2LZY-unsplash
