"We hope that this development will help shape how advisers think about the importance of vulnerability across all customers."
Acknowledging that vulnerability isn't a ‘one size fits all’ term, the Network has created a new wealth of resources and educational content on the topic for all its member firms.
The Hub includes access to a new vulnerability checklist which will become mandatory to complete a full assessment of each individual customer, interactive information for advisers to help their vulnerable customers, and sales aids to help support the process.
It also includes 'Time to Talk', a dedicated area for advisers to go if they need more support personally, which also includes information around supporting adviser firms' staff through Covid and other external influences.
Victoria Wilson, equity release manager and head of Vulnerability Champions, said: “We are very proud to announce the introduction of The Vulnerability Hub to our network adviser site and the extra steps we are introducing to all our product sales processes. The team of Vulnerability Champions have worked very hard to get as much resources together as possible and we wish to continue to work and assist our advisers in this area; not only to help their customers but to also create a supportive place for them as well, if they need it. We hope that this development will help shape how advisers think about the importance of vulnerability across all customers. Not only for the advisers at The Right Mortgage Network but across the wider industry too.”
Martin Wilson, CEO of The Right Mortgage Network, added: “Vulnerability is often attributed to older clients or those with varying degrees of capacity; this project, however, aims to highlight the different types of clients who could be classed as vulnerable and draws an important focus for advisers in how they identify these clients and adjust their processes and behaviours accordingly. We are very excited to launch this initiative for our members and recognise the impact this could have on our members and shaping the industry’s reactions to vulnerability too.”
