Understanding the Financial Vulnerability Charter

Being the best we can be is central to everything we do at Carbon. We understand that what people value about our service can sometimes extend beyond purely financial matters. This might be during major life events or health changes where some extra support is needed.

Our regulator, the Financial Conduct Authority, identifies four key areas of vulnerability:

Health – conditions or illnesses affecting someone

Life events – such as bereavement, job loss or relationship breakdown

Resilience – low ability to withstand emotional or financial shocks

Capability – low knowledge of financial matters, low confidence in managing money or capability in other relevant areas such as literacy or digital skills

To demonstrate Carbon’s support in these areas, we are pleased to announce that we have signed up to the Financial Vulnerability Charter. This is a set of standards for firms dealing with those with challenging or unique circumstances, whether temporary or permanent.

The Financial Vulnerability Taskforce (FVT), which created the Charter, is an independent body of industry experts that aims to achieve the following:

• Promote greater understanding of vulnerability
• Encourage appropriate behaviours
• Establish good practice amongst personal finance professionals

Here at Carbon, we are proud to support this initiative through working with the FVT and training and supporting our team.

Whilst we strive to have the best standards of service and trained staff in this area, we would also encourage clients to share any issues they have with us, both now and in future.

More information on the FVT can be found here - Home | Financial Vulnerability Taskforce (fvtaskforce.com), or contact Iain Harper at iain.harper@carbonfinancial.co.uk

The value of investments and the income derived from them can fall as well as rise. You may not get back what you invest.

This communication is for general information only and is not intended to be individual advice. It represents our understanding of law and HM Revenue & Customs practice. You are recommended to seek competent professional advice before taking any action.

Tax and Estate Planning Services are not regulated by the Financial Conduct Authority.