The SimplyBiz Group has launched a range of online resources to help its member firms understand more about vulnerability, feel more confident when working with vulnerable clients and provide quality solutions and support to clients.
The hub, which is available to the 10,000+ advisers and brokers who subscribe to the group’s services, offers support across three primary sections: training and awareness, guidance and documentation, and solutions. It also houses a directory of specialists and charitable organisations which may prove useful to intermediaries working with vulnerable clients and a forum, in which advisers can share best practice as well as discuss any challenges they are facing or questions which are arising frequently.
The hub is the cornerstone of the Group’s existing and future work around vulnerable clients, which has seen it update its policy documentation and run a series of one-hour workshops at its Learning and Development Events, which attracted over 1,000 bookings. Dedicated training workshops on working with vulnerable clients will be run by the Group in August.
Janice Laing, who is leading the Group’s work on vulnerable clients, said: “Despite the increasing importance of identifying and addressing customer vulnerability from not only a regulatory, but also social, perspective, we understand that it can still sometimes be a difficult area for advisers and brokers to approach with clients. For that reason, we are providing support on not only the regulatory requirements of working with vulnerable clients but also providing tools, interactive training and material to help our Member Firms grow their understanding of types of vulnerability and how to recognise and address vulnerability, as well as work with these clients, in practical terms.
“In addition to expertise within the Group, we are working with both our partners within the industry and external charities and specialists to ensure we are delivering the most informed and valuable insight possible through the hub. Support around vulnerable clients remains a priority for the Group and over the next few months we will be providing focussed campaigns on bereavement, later life, mental health and domestic abuse through financial coercion.
”Although the material on the hub was predominately collated to support advisers and brokers in their work with clients, we recognise that many of us are more vulnerable currently than ever before and we hope that our members can also utilise these resources with their staff, loved ones and even when facing challenges themselves.”
