FCA will have 'a lot more to say' on vulnerability in 2025

Treatment of vulnerable clients continues to be on regulator’s radar

Isabel Baxter
clock • 2 min read

Treatment of vulnerable clients is something that is going to continue to be on the regulator’s radar this year, delegates heard.

Speaking at the Schroders' Adviser Forum today (22 January), Boring Money CEO and founder Holly Mackay said that client vulnerability is something that the Financial Conduct Authority (FCA) will have "a lot more to say on" in 2025. "We tend to jump to conclusions when it comes to vulnerable clients," she said. "A lot of characteristics are among people who we may look at and not assume are vulnerable." Mackay said that the financial advice industry can "underestimate" vulnerability and the characteristics which constitute a vulnerable client. Mackay cited that 22 in 100 advised cli...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Nexus IFA director Kerry Nelson charged over £2m alleged fraud

Nexus IFA director Kerry Nelson charged over £2m alleged fraud

FCA also starts criminal proceedings against firm's business operations manager

Isabel Baxter
clock 28 February 2025 • 1 min read
Consumer Duty champions officially axed

Consumer Duty champions officially axed

No longer a requirement from today

Jen Frost
clock 27 February 2025 • 2 min read
FCA CEO: Tackling growth 'requires bold strokes – from all of us'

FCA CEO: Tackling growth 'requires bold strokes – from all of us'

Regulator looks to 'end duplication'

Linus Uhlig
clock 27 February 2025 • 2 min read