Following Carbon’s commitment to The Financial Vulnerability Taskforce (FVT) Charter (blog here), we wanted to share more on what this involves.
The aim of the FVT is to promote understanding, the right behaviours and good practice when dealing with vulnerability. The Charter itself is a set of independent standards, that firms can align themselves with to demonstrate their work and service in this area.
For context, in May 2022, 47% of UK adults showed one or more characteristics of vulnerability, up from 46% in February 2020. This equates to an increase of 0.9 million adults from 24.0 million to 24.9 million over that period (FCA Financial Lives Survey 2022).
The Charter consists of nine core statements, designed to cover all aspects of dealing with clients in vulnerable circumstances. More information can be found here - The Charter | Financial Vulnerability Taskforce (fvtaskforce.com)
It is important to walk the walk, rather than simply talk the talk, so we wanted to share some examples of Carbon embracing our values and mindfully serving clients in vulnerable circumstances:
It is a natural fit for the team at Carbon to commit to these standards and we continue to invest in our team and processes to deliver the best outcomes for all our clients. Living by our values allows us to always put the client first and the extra steps we take for our more vulnerable clients is simply an extension to these core values.
If you or someone you know may be in vulnerable circumstances and would benefit from help with their life planning and financial affairs, please get in touch.
Iain Harper, an Associate Director at Carbon, heads up our work on vulnerability. He can be contacted at firstname.lastname@example.org
or 07790 806128.
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