BR Guide Second Edition

81 80 WORKING WITH VULNERABLE CLIENTS WORKING WITH VULNERABLE CLIENTS Things to remember All staff should receive training on the matter, including on efficient processes for frontline staff to handover vulnerable clients to specialist teams. The FCA recommends having good policies and practice in handling disclosure or communication needs of consumers and recording of that information effectively plays a key role for consumers and is helpful to staff. Developing an Understanding The FCA has outlined a few non-exhaustive steps that can be taken to develop an understanding of the needs of vulnerable consumers: • Use external materials to understand the indicators of vulnerability and how it can impact a person’s ability to engage in your market • Create an internal vulnerability policy including information on the vulnerabilities present or likely to be present in your target market • Analyse existing data to identify the vulnerabilities that may be present in your customer base • Carry out market research • Use feedback and insights from frontline staff • Use complaints data to establish areas where needs may have not been understood • Look at whether customer outcomes differ between sales and distribution channels to see whether these raise different issues. What to look out for Vulnerability can manifest itself in some common behaviours. A few warning signs include: An increased level of stress Less able to process information !? Seemingly pre-occupied, and a more limited ability to manage A lack of perspective, especially when experiencing something for the first time People can become more reckless in times of stress, potentially changing their attitude to risk Less time to handle their personal affairs Treat clients as individuals • Tailor advice and communication methods • Welcome friends or family to help • Be flexible about where and when to meet (thinking about accessibility) • Allow plenty of time for reflection and understanding Provide products and services that are easy to understand • Jargon-free information, help and explanations Ensure a choice of ways to communicate • Face to face • Over the phone • Post • Large print • Braille • Email • Web solutions Make sure frontline staff know how to spot and deal with vulnerability • Encourage and train in listening skills and empathy • Allow staff the time to listen • Ensure staff know the warning signs to look for, how to deal with them and who to refer them to (ideally those who have specialist knowledge/ experience/training in this area abc