Practical Protection Podcast: Financial Vulnerability Taskforce

Hi everyone. I hope you enjoyed the previous episode? I was joined by Matt Ran, where we spoke about Huntington's disease, and what this might mean for access to insurance.

Related topics:  Blogs,  Protection
Kathryn Knowles | Cura
30th May 2022
Kathryn Knowles Cura
"There are many things which can make a person vulnerable, it doesn’t just stop at the stereotypical things that most people would usually think of."

I’m joined by special guest Keith Richards, chair of the Financial Vulnerability Taskforce, a professional body which was set up to help consumers and advisers better understand what vulnerabilities actually are, and the good practices that should be followed to address these concerns. They have a Charter that contains nine statements that members are expected to actively promote and support.

There are many firms unsure on how to best support vulnerable clients, and there are also firms who are probably already doing things to support these clients, but aren’t completely aware that they’re doing it. Signposting is a great option for firms who don’t feel like they are in a position to truly help.

There are many things which can make a person vulnerable, it doesn’t just stop at the stereotypical things that most people would usually think of. And actually, everybody will be financially vulnerable at some point in their lives.

Although technology has made a positive impact in areas of the industry, it has also made it easier for fraudsters and scammers to access a wider network of consumers. I was shocked to hear that there was £137 billion lost to fraud in the UK alone last year.

You can listen to the episode at: https://practical-protection.co.uk/financial-vulnerability-taskforce/.

In the next episode I will be covering insurance and the Armed Forces. Sometimes getting the insurance is quite straightforward, other times it can be pretty tricky. There will be some interesting case studies for you to hear about too.

Don’t forget to claim your CPD certificate once you have listened to this episode at https://practical-protection.co.uk/claim-your-cpd/.

Our certificates are accredited by CPD UK, through our sponsor Octo Members.

Please don’t worry if your work systems are not keen on the CPD form (it’s a Google form). Contact me on social media or through the website and I will be able to issue the certificate directly to you.

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