MorganAsh, a vulnerability specialist and support services provider, has launched a new gap analysis service to help firms assess how their current approach to customer vulnerability management aligns with new benchmark guidance.
Firms looking to offer the FCA’s new targeted support must not neglect the customer vulnerability requirements of Consumer Duty, MorganAsh warns as the regulator confirms the proposals will go ahead and take effect from April 2026.
This webinar is for financial advisers, wealth managers, insurance brokers, intermediaries and mortgage brokers. Firms face a range of challenges when it comes to evidencing vulnerable customers. While most advisers/brokers understand their client’s personal situation, they lack the systems and structure to record this in a consistent manner.
We’re honoured to be joined by Vanessa Riboloni, Head of Research and Insight at the CII, and the driving force behind a new initiative to help insurance and financial planning firms to translate Consumer Duty’s principle-based regulations into practical actions and a concrete strategy.
Customer vulnerability specialists from MorganAsh also speak regularly at industry events. View speaking events
The FCA’s review into the use of AI across retail financial services is a timely and welcome intervention. We already find ourselves in a position where AI is rapidly moving from experimentation to implementation – in all walks of life. Financial services is absolutely no exception.
The new vulnerability guidance from the Chartered Insurance Institute (CII) is a significant step forward for both the insurance and personal finance sectors – and offers much across all of financial services. It provides firms with clear and comprehensive guidance of what ‘good’ looks like when it comes to supporting vulnerable customers.
According to the FCA’s Financial Lives survey, around half of all people are vulnerable at any one time. This seems like a lot – is it accurate? And, if it is so many, what can firms do about it? Many firms are only very identifying low numbers of vulnerable customers – what are they missing?
Elephants Don’t Forget, FWD Consulting, MorganAsh, and the Collaboration Network answer your questions about implementing the FCA’s Consumer Duty requirements on customer vulnerability within your firm.
There is still a great deal of uncertainty about how someone is defined as vulnerable; what a vulnerability is. The FCA’s data (confirmed with live data from MorganAsh’s vulnerable consumer management tool, MARS) shows that around half of all people can be defined as vulnerable. Yet others say that they have only a few per cent of vulnerable consumers. Can this be true? Andrew Gething and Johnny Timpson OBE try to dig into the answers.
While people prepare to report under Consumer Duty, Andrew Gething observes that one of the things many companies don’t understand is that Consumer Duty also requires them to report under the Equality Act. The Act has been around for some years, but many haven’t recognised the part it plays in Consumer Duty. Johnny Timpson OBE shares his thoughts.
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