The Right Mortgage Network has launched a brand-new Vulnerability Hub aimed at prioritising vulnerability as a focus topic for advisers working in the current world.
Believing that vulnerability is no simple ‘one size fits all’ term, the network has created new resources and educational content on the topic for all its member firms.
In order to implement this, firstly the network introduced a Vulnerability Champions Taskforce made up of voluntary staff looking to implement new developments with thenetwork in order to put the well-being of advisers and their customers at the forefront.
The Vulnerability Hub includes access to: a new Vulnerability Checklist which will become mandatory to complete a full assessment of each individual customer; a raft of interactive information for advisers to help their vulnerable customers; sales aids to help support the process; “Time to Talk”, the dedicated area acting as a ‘safe place’ for advisers to go to if they need more support personally, which also includes information around supporting adviser firm’s staff through Covid-19 and other external influences.
Victoria Wilson, equity release manager, head of Vulnerability Champions, said: “We are very proud to announce the introduction of The Vulnerability Hub to our network adviser site and the extra steps we are introducing to all our product sales processes. The team of Vulnerability Champions have worked very hard to get as much resource together as possible and we wish to continue to work and assist our advisers in this area; not only to help their customers but to also create a supportive place for them as well, if they need it.
“We hope that this development will help shape how advisers think about the importance of vulnerability across all customers. Not only for the advisers at The Right Mortgage Network but across the wider industry too.”
Martin Wilson, CEO of The Right Mortgage Network, added: “Vulnerability is often attributed to older clients or those with varying degrees of capacity; this project, however, aims to highlight the different types of clients who could be classed as vulnerable and draws an important focus for advisers in how they identify these clients and adjust their processes and behaviours accordingly. We are very excited to launch this initiative for our members and recognise the impact this could have on our members and shaping the industry’s reactions to vulnerability too.”