Question 1

Introduction

Accepted Answer

Explore the definition of vulnerability and recognise its diverse manifestations, encompassing personal circumstances that can impact individuals' financial well-being.
Learn effective techniques to identify customers in vulnerable situations, considering factors such as physical or mental health, financial challenges, age, or language barriers.
Discover the importance of treating vulnerable customers fairly, ensuring they receive equitable access to services and support.
Gain valuable insights into recognising vulnerability indicators, such as confusion, difficulty in decision-making, financial strain, or dependency on others.

Question 2

Examples of potential vulnerability

Accepted Answer

Gain insights into examples of potential vulnerability, including mental illness statistics and triggers.
Understand the indicators that signal vulnerability in customers and how life-changing events can contribute to their vulnerability.
Learn about the relationship between disability/illness and vulnerability, gaining knowledge to provide appropriate support.
Additionally, understand the importance of exercising judgement when serving vulnerable customers, ensuring fair and equitable treatment.

Question 3

Identifying Vulnerability

Accepted Answer

Learn the art of identifying vulnerability, recognising that most vulnerabilities are hidden and may not be immediately apparent.
Explore the significance of customer statements that indicate vulnerability, enabling you to identify and address their unique needs.
Understand why a customer may choose not to answer certain questions, respecting their boundaries while still providing support.
Gain insights into the implications of application or transaction refusal, and learn how to navigate such situations effectively.
Recognise the importance of dealing with third parties speaking on behalf of customers, ensuring proper authorisation and safeguarding against exploitation.
Explore the concept of customers being used as proxies, and understand the ethical implications involved.
Finally, appreciate the role of the vulnerable customer champion within your organisation, advocating for the needs and well-being of vulnerable customers.

Question 4

Support Protocol

Accepted Answer

The Royal College of Psychiatrists and the Money Advice Trust have collaborated to develop a set of drills known as TEXAS, designed to assist professionals in effectively working with vulnerable clients.
TEXAS serves as a valuable guide, enabling practitioners to ask pertinent questions in a discreet and non-invasive manner. By actively listening for indicators of vulnerability and implementing the TEXAS drill, professionals can create a safe and comfortable environment that encourages clients to share essential information.
This information, in turn, can be utilised to ensure the best possible outcomes for customers. Incorporating this process into day-to-day activities establishes a consistent and compliant approach, aligning with the customer’s best interests

Question 5

Next Steps

Accepted Answer

Learn how to navigate situations where you believe the customer is not vulnerable and proceed accordingly, ensuring fair treatment while maintaining professionalism.
Gain insights into providing comprehensive support to vulnerable customers, addressing their unique needs with empathy and respect. Understand when it is necessary to assess vulnerability, enabling you to proactively identify and assist customers facing challenges.
Develop effective communication strategies to engage and understand the concerns of vulnerable customers, fostering a positive and supportive environment.
Furthermore, learn appropriate actions to take if a customer expresses feelings of suicide or self-harm, ensuring their safety and accessing appropriate resources.
Lastly, discover how to manage personal distress that may arise when interacting with vulnerable customers, implementing self-care techniques and seeking support when necessary.

Question 6

Dos and donts

Accepted Answer

Learn how to approach each customer with sensitivity and respect, recognizing their unique needs and challenges.
Understand the importance of maintaining a calm demeanour, creating a safe and supportive environment for customers to share their concerns.
Develop active listening skills, enabling you to fully understand and address the needs of vulnerable customers.
Recognize the importance of refraining from using humour, as it may be inappropriate or insensitive in vulnerable situations.
Learn strategies for assisting customers who find it difficult to communicate, allowing them the necessary time and support to express themselves.
Set clear boundaries to ensure a professional and appropriate interaction with customers.
Avoid sympathising with customers to maintain objectivity and professionalism.
Understand when it is appropriate to request evidence of mental health problems, ensuring that you handle sensitive information appropriately and ethically.
Learn the skill of signposting, directing customers to relevant support services and resources.
Lastly, avoid making unrealistic agreements to maintain transparency and manage customer expectations effectively.

Question 7

Signposting

Accepted Answer

Understand that signposting involves directing individuals to other individuals, charities, or third parties who can provide the specific help they need. It is crucial to have a good understanding of local and national organisations to ensure effective signposting.
Recognize the importance of not passing on customer details without their consent, respecting their privacy and confidentiality.
Learn where to signpost customers for financial advice, guiding them to appropriate resources within your company or external financial organisations.
Gain knowledge of where to signpost customers for health issues, directing them to relevant healthcare professionals or organisations.
Additionally, understand that signposting to the customer's local authority can be beneficial in certain cases, as they may offer specialised support and assistance.

Vulnerable Customers

Course Summary

Want to try this course with a free test flight?

Vulnerable Customers Learning Outcomes

Introduction

Examples of potential vulnerability

Identifying Vulnerability

Support Protocol

Next Steps

Dos and donts

Signposting