Brokers using Acre can now run Comentis’ assessments directly on the platform, making it easier to spot and deal with vulnerable clients without extra steps.
Under the partnership, users of Paradigm Consulting’s support services will gain access to Comentis’ digital Financial Vulnerability Assessment solution.
The firm warned that financial services companies must first understand customer vulnerability if they are to serve everyone properly.
The 30-minute session starts at 11.30am on 16th September.
The Huntswood study showed that over half of UK customers are now considered vulnerable, with numbers rising from 44% in 2023 to 51% in 2024.
The firm found that 46% of its advisory arm, Equity Release Supermarket’s customers, were identified as vulnerable.
Just 29% of vulnerable customers said the organisations they deal with knew about their situation, 42% said their provider was unaware, and 29% were unsure.
More than half of financial services customers in the UK now meet the criteria for vulnerability, according to new research from Huntswood.
Gething’s remarks followed the FCA ‘Financial Lives survey’, which found that 49% of UK adults, over 26 million people, had at least one sign of vulnerability.
The service has been developed in direct response to broker feedback and was designed to help intermediaries to meet their regulatory obligations with confidence.
NatWest Group customers who are struggling with debt, budgeting or household costs, will be offered a free Money Wellness financial health check.
The report states that firms need to move beyond a "tick-box mentality" to achieve genuine customer-centricity.