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Vulnerable Clients

There are many different life events and situations that can make managing your finances more challenging:

  • Your Health
    • Mental or physical challenges short or long-term, being unwell or suffering an impairment to your sight or hearing can make being in control of your finances more difficult.
  • Your Resilience
    • We all have times when we struggle to cope, for some of us the situation is temporary and upsetting, while for others, challenges can be enduring. Whether it’s stressful situations in life or more specific financial difficulties, the cares of life can make it difficult to make sound financial decisions.
  • Your Capabilities
    • Our strengths and experiences make us who we are and for many that will not include knowledge of financial matters or confidence in numbers generally. You may have cognitive or learning challenges, or you may not be comfortable with technology.
  • Just Life
    • Change is a constant and we will all experience the good and the bad. Marriage and divorce, birth and death, career progression and job loss, caring for others and being cared for – all have an impact on your needs. We’re here to make it easy You will be fully aware of your own situation. Our role is to get to know and understand you so that we can always recommend the right approach – whatever your circumstances.

We do not believe you should feel embarrassed if you feel vulnerable. We need to know how you feel and how you want your advice to be given to you. It’s key that you understand the options we will give you and if you want additional support in the decision-making process, then you should have it. Adapting to individual client needs is what we do every single day.

It starts with a conversation When we first meet to plan your financial future please share as much of your personal experiences, concerns and goals as you can. You may think your concern is a small and unimportant matter. Our job is to listen, to understand and to give you the advice and guidance you need in your financial life and having a full picture really helps us to give you a truly personal service. Understanding your situation helps us to adjust our approach to you and to make sure that our proposals are designed to give you the support and care every one of our clients deserve. Most importantly – once you have trusted us with an understanding of your individual situation, we need only have the conversation once.

Unless you advise us of a change, our approach will always reflect your personal circumstances without you having to remind us of your needs. Our service is always personal and there are many ways this tailored approach can be adjusted to reflect your individual circumstances including:

  • Taking our time and spreading our discussions over several shorter meetings instead of one long meeting – so you have the space and energy to consider and understand your options.
  • Being flexible on the time, location and nature of meetings and always fitting around your needs – be they important family events, work pressure or periods of ill health. We will never, ever hurry you to make a decision but always work at your pace so that you have the time to think over your options.
  • We will welcome relevant friends or family members to accompany you at meetings – especially if others are affected by your decisions. We will help you to set up contingency plans in the event of unexpected changes to your life. This can be as simple as letting us know your most trusted individual – the person we can speak to if we have concerns for your wellbeing.
  • Or we can help you to set up an appropriate power of attorney to give you peace of mind on who will make decisions on your behalf if you cannot make them yourself.

Whatever your circumstances, we will respect your wishes and we will adapt our approach in tune with your changing needs at all points in our relationship.

Powers of Attorney are not regulated by the Financial Conduct Authority.

Approved by The Openwork Partnership on 23 April 2024