Hundreds of advisers have adopted the professional body's newly launched Financial Vulnerability Charter in a move hailed as an industry "stepping up with a plan of action".
Since the PFS launched its charter in January, 350 advisers have committed to its nine core pledges, which aim to support the advice industry in addressing the various forms of consumer vulnerability, improve client outcomes and increase access to financial advice.
Adviser interaction
Stephen Lowe, group communications director at Just Group, said advisers were keen to learn more about how best to serve vulnerable clients.
He said: "Firms have a great deal of flexibility how they comply with their responsibilities and it is useful to see examples of firms that are getting it right and to understand where the regulator thinks they are falling short.
"Advisers are definitely keen to learn more so they can interact with vulnerable clients sensitively and appropriately.
"Proof of their appetite is shown by the fact that over 6,000 advisers have used our online vulnerability training tool, developed in conjunction with SOLLA, which we launched in 2019."
Read: 'Ditch the suit': an adviser's take on dealing with vulnerable clients
rachel.mortimer@ft.com
