Just Group has reported strong demand among financial advisers for support around vulnerability, after revealing its “consumer vulnerability in later life training” has now reached 15,000 completions.

The interactive digital training was launched by Just Group and Society of Later Life Advisers (SOLLA) in 2019 to equip financial advisers, paraplanners and other colleagues in advice firms with the insight needed to support vulnerable customers.

Demand for the training has increased since it was first launched, as first the COVID pandemic and then the cost of living crisis has raised the profile of vulnerable customers and emphasised the advice community’s responsibility to ensure the fair treatment of these customers.

The training has been updated each year to reflect guidance around the pandemic, cost of living crisis and more recently, direction from the Financial Conduct Authority (FCA). The latest update was launched in May this year to incorporate expectations from the regulator around vulnerability and Consumer Duty.

Group communications director at Just Group, Stephen Lowe, said: “The advice community has worked hard to help its clients through the difficulties many people have experienced over the past few years. They have had to deal with an unprecedented global pandemic which brought with it restrictions and macroeconomic impacts. This was followed by a cost of living crisis and significant market turbulence.

“People can be vulnerable for many reasons and events like these bring added pressures which can trigger vulnerability. It emphasises the importance of treating customers fairly and this requires identifying and supporting those with characteristics of vulnerability.”

Lowe added: “We created the consumer vulnerability in later life training with content provided by SOLLA to keep intermediaries updated on the latest guidance in the sector. We provide them with relevant tools and insight to build and maintain effective strategies for helping vulnerable customers. It’s great to see so many in the advice community benefiting from the training.”

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