Comentis Ltd

Our non-executive director, Richard Farr, has been quoted by Professional Adviser on the topic of the #FCA taking ‘appropriate #regulatory action' in H1 of 2025. He explains that once again the FCA has demonstrated just how seriously it is taking the adoption of good outcomes for all customers, particularly those in #vulnerable circumstances. He noted that there was specific criticism of the wealth management sector as being poor at vulnerability identification and maintained that.... 💬 the issue of the identification, meeting customer needs and the monitoring and recording of all of this, is not going away. Indeed, it looks like it is ratcheting up. As we move into 2025, we encourage all firms to get on the front foot and not wait until remedial action is taken, which will inevitably the next course of action. 💬 Find out more here: https://shorturl.at/2PeEK

The sad reality is that negative associations around what it means to be vulnerable could lead to clients not receiving the support they need. And this is just not good enough..   💬 Until we change the narrative and perceptions within organisations, we’re still going to see a barrier, 💬 says Jonathan Barrett in a recent interview to Shekina T. over at Mortgage Solutions.   Find out more in this article about how we want to reframe #vulnerability ⬇️ https://lnkd.in/e5B5biFf #IFA #financial #vulnerableclients #vulnerablecustomers #wealthsector #mortgages #mortgagebrokers #financialadvice

Our very own Beth Yolland-Jones has been talking about financial vulnerability here in this article for FT Adviser. The piece carries 30 minutes of #CPD credits, so well worth a read..    In the article, Beth covers some of the misconceptions around #vulnerability, how to identify and manage a challenging life event and how to talk about vulnerability in a way to help the client open up and perhaps, more importantly, remove any associated stigmas.    Find out more here ⏩ https://lnkd.in/eD6rCBmw #financialadviser #IFA #financialvulnerability #financialwellbeing

Relying on the #adviser to spot the signs of financial vulnerability themselves is unquestionably impractical. Find out why here in this piece @Jonathan Barrett wrote for Professional Adviser ▶️ https://lnkd.in/eWd_q-jj #financialvulnerability #consumerduty #wealth #IFA

In Jonathan Barrett’s latest article for IFA Magazine, he assesses why identification is still the weakest link in the #vulnerability chain and discusses what #advisers need to do to get identification right up front.    As Jonathan explains: 💬 No matter what a firm does around vulnerability – whether they put in place vulnerability training for employees, improve policies or dedicate more procedures to help their vulnerable clients – all of this is arguably worthless without the right identification process in place at the outset. 💬 .... Find out why ➡️ : https://lnkd.in/ejjJNnbG

Certainly feels like a further ratcheting up on vulnerability by the industry in recent weeks. Not only do we have Graeme Reynolds at the FCA making some very valid points at the #PIMFA vulnerability conference, but we also have had the Chartered Insurance Institute's white paper on Consumer Duty Board reporting specifically call out inadequacies in #vulnerability identification and the production of suitable data. And all this in the middle of the FCA's review into good outcomes for customers with vulnerable circumstances...

We are thankful to Rob Branch and the EY fintech team for inviting our CEO, Jonathan Barrett to present at their latest fintech showcase.

We are really pleased to share that Automotive Systems (UK) Ltd will be offering our Financial Vulnerability Assessment tool to its network of #automotive retailers. The tool will help Automotive Systems’ retail professionals consistently identify #vulnerable clients in line with the Financial Conduct Authority’s (FCA) Consumer Duty regulations. It will integrate seamlessly into Automotive Systems’ existing technology for #compliance clients. Find out more about our partnership here ➡️ https://lnkd.in/eRskQJ_v Tim Sheriff

Our recent data has found that automotive firms are currently identifying less than 1% of their customers as being vulnerable, when in reality the actual figure is substantially more….   In fact our data reveals that 8% of automotive customers are vulnerable and need support.    In this piece for Motor Finance Online GlobalData Plc, Jonathan Barrett, explains that we’ve been witnessing a real discrepancy between how many vulnerable customers automotive firms are currently identifying vs how many vulnerable customers they actually have.    To read more about the #automotive #vulnerability gap, and what you can do about it, check out this article. ⏭  https://lnkd.in/entvpmts Thanks to John Honeywood of TC Harrison Group Limited for his expertise in this article too.   

In this article for Mortgage Solutions our very own Beth Yolland-Jones talks about the need to reframe #vulnerability. Beth explains that we need to reframe financial vulnerability as financial wellbeing. This is about taking a more holistic, person-centred approach, so that you’re seeing all of an individual’s strengths, rather than just the negatives. Instead of asking what’s missing, ask how you can maximise what resilience is already there. As Beth says, “this is all about the human experience. In the context of an advisor and their client, we’re just recognising it in a financial space.”   Find out more about what Beth has been saying here ➡ https://lnkd.in/gahAR7xn #IFA #mortgageprofessional #mortgages #clientvulnerability #financialwellbeing #mentalhealth