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To educate and align industry practices relating to the treatment of vulnerable customers
There is a regulatory and moral imperative to ensure that people are treated appropriately when they deal with financial firms, taking into account whatever vulnerability they may have.
Almost everyone will either have been in a position of vulnerability in their lives, or is currently vulnerable, or will become so as they age or need to care for someone. Financial firms have been working to deliver a consistent standard of fair treatment of customers for many years, but only recently have the needs of vulnerable people become central to fair treatment considerations. Some firms are well advanced with their practices, whilst others are struggling to establish consistent processes and strategy, and need support to help them advance more quickly.
Goal/s: a) To manage the RADAR tool (to ensure it is fit for purpose against finalised FCA guidance); and b) To define, develop and share best practice.
Strategy: Facilitate input from charities/trade bodies/regulator/3rd party suppliers and create a framework for dealing with customers in different vulnerable situations and categories.
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Aegon UK PLC
Altus Limited
Aviva Plc
Aviva UK Insurance
Baillie Gifford & Co
Baringa Partners LLP
BNY Mellon
Brewin Dolphin Ltd
Comentis Ltd
Crealogix
Delta Financial Systems
Equiniti
Fidelity International
HSBC Bank plc
Investec Bank Plc
James Sharp & Co
Janus Henderson
JPMorgan Asset Management
Link Group
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M&G Investments
Money Guided
Nationwide
NatWest PLC
NextWealth
Northern Trust
Novia Financial
OneFamily
Pinsent Masons LLP
Prudential
Punter Southall Wealth Limited
Quilter Cheviot Limited
Quilter PLC
Scottish Widows Plc
Sopra Steria
SS&C
St James’s Place Wealth Management
Tesco Bank
Thesis Asset Management
Lisa Laybourn, Head of Technical Policy and Regulation leads on this work at TISA
Chair: Anthony Scammell, Quilter
