Vulnerability - FCA Requirements

Hi all,
Hoping there is someone that can point me in the right direction on this.

If a client has been identified as vulnerable; is there any FCA requirement that any subsequent client interactions, be it fact find, presenting advice etc, need to be face to face?

Cheers all.


  • I'm not too sure on the FCA requirements but it is good practice to have a 3rd party present in such cases (although I'm sure you already know that).

  • This document is handy to give you an understanding of what is expected - particularly page 25 might help.

    I don't think it is a spoken rule (although could be wrong) however they stress the importance of clear and concise information which I guess is easier to display face to face.

  • I don't believe there is a hard and fast rule on this.
    I suspect it would depend on the nature of the vulnerability - if it's a mental capacity or mental cognition issue, then having a 3rd party present would obviously help (spouse, children or ideally someone who holds a power of attourney).
    Giving the client a choice of how they wish to be communicated with is always good practice. There are various drills you can employ with clients where you think there may be an issue with vulnerability. one example is the TEXAS drill: Thank, Explain, eXplicit, Ask, Signpost - a good resource is the Money Advice Trust: Guide for Advisers.pdf
    This document gives case studies around diffferent types of vulnerability and advice on dealing with them.
    At Just we have also developed a CBT module in conjunction with SOLLA on dealing with vulnerable clients - if you want to drop me a line i am happy to send you a link.

  • Thanks all.
    Our network is insisting on F2F meetings for vulnerable clients - as comments above state, no hard or fast FCA requirement for this but I guess that is the networks interpretation on how best to meet the guidance.

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