Watch webinar

Consumer Duty & Vulnerability: are you vulnerable to getting it wrong?

Watch webinar

Consumer Duty & Vulnerability: are you vulnerable to getting it wrong?

This webinar took place on the 26th March 2024

This webinar was hosted in conjunction with:

MorganAsh_Logo

Recent communications from the FCA indicate that at least as many firms are failing to address consumer vulnerability adequately as are succeeding.

Over the past few weeks, the FCA has intensified its efforts to ensure that vulnerable customers receive outcomes as good as those for other consumers. As we approach the first Consumer Duty assessments, the regulator has highlighted concerns that some firms, particularly in specific markets, are not prioritising support for vulnerable customers. Additionally, some firms have reported having no vulnerable customers in their customer base – an untenable statistic, given that 50% can be classified as vulnerable at any point.

In this free 60-minute webinar, our panel of experts will dissect the regulator's expectations, looking at common pitfalls, false assumptions – and examine what the regulator is really looking for and the best ways to deliver this.

Key discussion points include: 

  • The difference between reactive and proactive approaches to identifying and supporting vulnerable customers.

  • Methods of capturing meaningful data and using this to create Management Information (MI) reports which stand up to regulatory scrutiny and challenge from the Board.

  • How leading firms are enhancing their approach to vulnerability across all stages of the product lifecycle and customer journey. 

Watch the webinar here:

Meet our webinar panel

Adrian Harvey (col)
Adrian Harvey
CEO | Elephants Don't Forget
 
LinkedIn
 

Adrian spent the first decade of his career working in corporate banking and lending with ABN AMRO, GE Capital & BNP Paribas. He joined the energy sector to bring commercial expertise to the privatisation of British Gas and spent ten years in the sector. He was Managing Director of the largest residential business of British Gas and Managing Director of Eon’s property services and renewable energy business.

Andrew Gething
Andrew Gething 
Managing Director | MorganAsh
 
LinkedIn
 

Andrew Gething is the managing director of MorganAsh, an FCA-regulated firm that has been assessing and helping vulnerable consumers for over two decades. MorganAsh has developed the award-winning consumer vulnerability assessment, management and reporting tool, MARS (the MorganAsh Resilience System). MARS is in use in the financial services, credit and utilities sectors. Andrew is a recognised expert in consumer vulnerability.

Johnny Timpson OBE
Johnny Timpson OBE 
Chair | MorganAsh
 
LinkedIn
 

Johnny Timpson OBE is chair of MorganAsh. He is a highly regarded industry expert with more than 40 years’ experience within the insurance and protection sectors. He holds positions, including as Financial Inclusion Commissioner and as a member of the FCA’s Financial Services Consumer Panel. He is also a member of GAIN, the Group for Autism, Insurance, Investment and Neurodiversity, the Prime Minister’s Champion Group for Dementia Communities, BIBA Access to Insurance Committee and the Building Resilient Households Group. In addition, he is a founding member of the Financial Resilience Taskforce, Age Irrelevance Ambassador and Grief Chat Ambassador.

Proud to support brands including:

Danske Bank
Aviva
LV
BNP Paribas
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