Strong demand for vulnerable customer expertise

17 December 2024

Just Group’s vulnerable customer training has been completed more than 20,000 times, the firm said, reflecting a strong demand for vulnerable customer expertise.

The Consumer Vulnerability in Later Life online training provided by Just, in collaboration with SOLLA, offers advisers a free, interactive digital training platform to equip advisers, paraplanners and other advice firm professionals with the skills to identify and support those in vulnerable circumstances.

Just Group said demand for the training, which was launched in 2019, has increased significantly as both the pandemic and the cost-of-living crisis accentuated the challenges facing vulnerable customers.

The training has been completed more than 20,000 times, of which 3,165 have been the updated 2024 training module. The latest module saw the inclusion of new learning outcomes following a revision to the FCA’s expectations concerning vulnerability and Consumer Duty, as well as new resource links.

By completing the training, advisers will be able to understand the characteristics of vulnerability and the importance of creating a safe disclosure environment; where they can make changes  in working practices to ensure clients receive the support and care to meet their needs; and how to ensure their clients, including those with the characteristics of vulnerability, receive consistently good outcomes in line with Consumer Duty.

Stephen Lowe, group communications director at Just Group, said: “The market instability and cost-of-living crisis in the aftermath of the pandemic has placed added pressures on individuals, placing many in vulnerable circumstances. With more than 20,000 completions, it’s encouraging to see advisers across the industry embracing the need to increase their expertise in this important area.

“We created the Consumer Vulnerability in Later Life training with SOLLA to keep intermediaries up to date on the latest guidance in the sector and provide them with relevant tools and insight to build and maintain effective strategies for helping vulnerable customers. Helping advisers address vulnerability fairly and effectively means that customers receive the respect and care they deserve.”

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Professional Paraplanner