The number of highly vulnerable clients has fallen over the past year, analysis from Dynamic Planner has shown.
Between 2023 to 2024, Dynamic Planner found 6.26% of clients were highly vulnerable in terms of their resilience, but this figure dropped to 3.09% from 2024 to 2025.
The proportion of clients with moderate vulnerabilities also reduced year on year, with more clients seen to have a low level of vulnerability.
The analysis comes as Dynamic Planner marks the second anniversary of its Financial Wellbeing Questionnaire, with a raft of changes and enhancements to help advice firms better understand client needs and differences.
Changes include aligning the questionnaire with key questions and the algorithm of the FCA’s Financial Lives Survey; recording vulnerability data across the four vulnerability drivers as well as the related characteristics allowing advisers to further explore which factors are leading to client vulnerabilities; and creating bespoke reports.
In addition, the questionnaire can be distributed through fact find invitations and the results, including a vulnerability status selected by the adviser, can be recorded on the client’s personal dashboard.
Dr Louis Williams, head of psychology and behavioural insights at Dynamic Planner, said: “At any point in time, a client can be considered vulnerable, whether due to a life event that causes them to become temporarily vulnerable or to a permanent change, for example due to a health condition.
“Driven by Consumer Duty and the FCA’s increasing focus on vulnerable clients, we’ve seen significant levels of adoption over the past two years since launching our Financial Wellbeing Questionnaire, and now in line with adviser feedback, this new version is fine-tuned to support them even more.”
Main image: luke-chesser-eICUFSeirc0-unsplash
