There is “continued strong demand” among financial intermediaries to improve their ability to support clients in vulnerable circumstances, according to Just Group.

The firm’s Consumer Vulnerability in Later Life training has now been completed more than 20,000 times as advisers seek to enhance their vulnerability policies.

Just Group launched the online training in 2019, with content developed by the Society of Later Life Advisers (SOLLA).

Since it was first launched, demand for the training has increased “significantly”, Just Group stated.

The firm said this demand had been driven by both the pandemic and the cost-of-living crisis, which had “accentuated the challenges” facing vulnerable customers and reiterated the responsibility of the advice sector to ensure they are supported.

The online training is aimed at financial advisers, paraplanners, and other professionals in advice firms to provide them with the skills to identify and support those in vulnerable circumstances.

It consists of insights and tools to help advisers offer best-practice advice to vulnerable clients, and is updated each year.

“The market instability and cost-of-living crisis in the aftermath of the pandemic has placed added pressures on individuals, placing many in vulnerable circumstances,” commented Just Group group communications director, Stephen Lowe.

“With more than 20,000 completions, it’s encouraging to see advisers across the industry embracing the need to increase their expertise in this important area.

“We created the Consumer Vulnerability in Later Life training, with SOLLA, to keep intermediaries up to date on the latest guidance in the sector and provide them with relevant tools and insight to build and maintain effective strategies for helping vulnerable customers.

“Helping advisers address vulnerability fairly and effectively means that customers receive the respect and care they deserve.”

SOLLA founder and joint chair, Tish Hanifan, added: “We are delighted that SOLLA’s collaboration with Just has resulted in such a wide range of advisers accessing and benefitting from our vulnerability training.

“This free resource not only guides them through key aspects of vulnerability but also allows them to test their understanding of the topic and its application to clients as well as being a valuable source of self-directed learning.

“It’s important that such a resource is made available to financial advisers particularly as the end result is a better experience for both their clients and their clients’ families."

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