Financial Vulnerability

 

Supporting people who find themselves in vulnerable

circumstances

 

No one likes to be labelled as vulnerable, and we would never describe someone as such.

 

However, we do recognise that people are sometimes in vulnerable circumstances, which may lead to detriment if not handled in a sensitive, empathetic and professional manner. Our aim is to help ensure that anyone who becomes a client of this practice that is in vulnerable circumstance, will achieve the same positive outcomes that they would have they achieved had they not been in the circumstances they find themselves in.

 

We have invested heavily in the areas of training and capability to ensure that we are able to provide effective, professional and confidential support; and to ensure that we provide a safe pair of hands. We have also updated our vulnerability policy and guidance statement which you can read here.

 

Two of our directors (Robin Melley and Andrew Mason) are founding members of the Steering Group for the national independent Financial Vulnerability Taskforce and are strong advocates for the Charter – we should be because we helped write it!

 

There is a consumer guide that you can download on this page, which sets out what you can expect from us as a professional practice. However, we have set out below the nine key commitments that we make to you should you, one day, find yourself in vulnerable circumstances:

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1. MAKING OUR SERVICES EASIER TO UNDERSTAND

Recognising that many consumers may find it difficult to understand many of the technical and specialist concepts and terms used by professional services, we will take extra care to explain things in an accessible way. We will only proceed once we are satisfied, that you fully understand the implications of the service or advice being given.

 

2. PLACING YOUR INTERESTS ABOVE ALL ELSE

At all times your needs will take priority over the financial interests of our firm and we will always use all reasonable endeavours to provide you with an appropriate, personalised service that takes into account your personal situation and any vulnerable circumstances.

 

3. MAKING OUR SERVICES AND THEIR COST TRANSPARENT

We will ensure that you understand the total cost and nature of our services before, during and after any agreement to deliver them.

 

4. UNDERSTANDING HOW YOUR CIRCUMSTANCES MIGHT MAKE YOU VULNERABLE

We understand that vulnerability can be physical, mental, emotional or simply the result of a lack of understanding. Being dynamic in nature, it may be short-lived or longer term, sometimes permanent, transient, recurring or fluctuating over time and may be hidden. We will act appropriately and with sensitivity at all times.

 

5. NOT MAKING ANY ASSUMPTIONS ABOUT YOU

All clients will be treated fairly, regardless of their identity, age, gender, race, sexual orientation, disability, gender reassignment, religion or belief and we will guard against making any assumptions about you.

 

6. NOT LABELLING YOU

Using appropriate language is important. For example, as adopters of the Charter we recognise that vulnerability relates to circumstances and not to a category of person and will not seek to label you as a vulnerable person but someone who is currently in vulnerable circumstances.

 

7. DEALING WITH YOU SENSITIVELY

We understand that people in vulnerable circumstances are often unaware of their vulnerability and, where they are aware, might not acknowledge it nor wish to be described as vulnerable. We therefore acknowledge a heightened professional obligation towards those in vulnerable circumstances and the need for raised awareness, greater sensitivity, and additional technical competencies.

 

8. ADAPTING PROCESSES AND MAINTAINING YOUR CONFIDENTIALITY

If you are considered to be in vulnerable circumstances, you will be encouraged to recognise them, safe in the knowledge that business processes and professional services will be adapted where necessary to ensure that you do not suffer detriment at any point. You can also expect outcomes to be achieved that are at least as good as for those who are not in vulnerable circumstances. We will also maintain confidentiality and ensure behaviours are fully compliant with all relevant legislation.

 

9. ENSURING STAFF ARE KNOWLEDGEABLE AND APPROPRIATELY TRAINED

We will make sure all members of our firm deal compassionately, empathetically and effectively with those in vulnerable circumstances by raising awareness of vulnerability within our firm and by providing appropriate training in supporting those in vulnerable circumstances.

 

10. TAKING APPROPRIATE ACTION IF YOU ARE IN HARM’S WAY

In those rare situations where it is recognised that a client in vulnerable circumstances may be in immediate danger of significant abuse or harm, or may need immediate support, we will take action to mitigate the risks they face including contacting the appropriate authorities if necessary. Examples of abuse or harm include coercion and control from a third party and scams.

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So, in summary, you may rest assured that you are in safe hands. Please download the guide.