Tenet Compliance Services (TCS) has introduced a financial vulnerability identification and reporting solution from fintech firm, Comentis, to strengthen its support for directly authorised advisers.

The solution, aligned to the FCA’s drivers of vulnerability, will enable TCS advisers to identify and record vulnerable client activity through a clinically developed assessment process that also identifies resilience and capability drivers.

TCS said the solution can be easily integrated into its existing advice process and added that advisers would benefit through comprehensive reporting of interventions, outcomes, and compliance.

“Understanding an individual’s vulnerabilities is key to providing sound advice,” TCS managing director, Warren Vickers. “By combining clinical expertise and data, we’re enabling advisers to consistently recognise and support potential financial vulnerability, even across harder-to-spot traits.

“We’re very excited about this latest addition to our vulnerability offering for advisers, all of which is designed to provide advisers with peace of mind and support their customers’ financial wellbeing.”

Comentis CEO and co-founder, Jonathan Barrett, added: “Financial vulnerability can be hard to identify beyond physical health and life-event triggers, putting undue pressure on advisers not trained to identify what are often mental health conditions.

“We are delighted TCS has selected Comentis to complement the important work they already do around vulnerability. We are looking forward to further developing our assessments and reporting with TCS to minimise the extra work required by advisers around vulnerability and ensure future reporting requirements are easily met.”

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