On Wednesday, June 3, 2026, I attended this unique event where the PFS North Scotland, CII Perth & Dundee, and CISI Scotland joined forces at the Murrayshall Country Estate in Scone.
This first-of-its-kind event brought members from across the country together to address the critical challenge of supporting clients in vulnerable circumstances.
The seminar provided a deep dive into the characteristics of vulnerability and how firms can ensure they deliver good outcomes and experiences for all clients.
The event featured a diverse lineup of speakers from across the Financial Planning, Wealth Management, and Insurance sectors. Each contributed a unique angle on how to identify and manage the complexities of client vulnerability, including sharing some of their own very personal experiences.
The speakers included:
- Sam Harvey (PFS Paraplanning Panel / Christie Financial Planning)
- Michaela Pashley (Practical Financial Exams / Roseum Financial Planning)
- Phil Turner (Chartered Insurance Institute)
- David Wilson (TrinityBridge)
- Alan Whittle (Unburdened Limited)
And we were treated to a thought-provoking and sometimes lively panel discussion, led by Tony Wincup (TrinityBridge).
During the event we explored how to apply the FCA’s four drivers of vulnerability—health, life events, resilience, and capability—in a way that recognises how these can shift and interact over time, understanding that vulnerability is not static.
We also considered the importance of balancing empathy and regulatory expectations without defaulting to “performative” processes.
The speakers helped members identify vulnerability across the entire client journey, including issues that may be hidden, and how firms can be proactive and ensure that they offer a service that includes everyone.
The main takeaways for me were:
- Vulnerability is a spectrum, not binary: The key takeaway was that vulnerability is not an “either/or” issue but exists on a spectrum, and it is crucial to avoid binary thinking.
- Inclusive by design: Firms should aim to make their service “inclusive by design,” meaning the service is inherently suitable for vulnerable and non-vulnerable people alike, rather than making exceptions. Examples of this include clear communications, left-aligned text, and using 12-point sans serif font to accommodate conditions like ADHD.
- Impact of imagery: An advice firm’s image can make some people feel they don’t fit in, potentially making them vulnerable and leading them to withdraw from the advice process. Some people simply do not relate to the image of a retired married couple walking hand-in-hand on a beach, for example.
- Spotting hidden vulnerability: Advisers should focus on trying to understand what the client is not saying. Signs of stress or vulnerability can include unexplained increases in expenditure, taking new medication, increased alcohol intake, withdrawing from the advice process, or becoming hyper-engaged to the point of obsession.
- Importance of asking questions: Being proactive when dealing with people with capability issues, such as, “How does that affect you?” or “What does that mean?” can be very helpful to determine if you need to make adaptations. Simply making assumptions could cause distress.
- Senior management responsibility: Good practices must be filtered down and embedded into a firm’s culture.
I recommend reading a post from my colleague Becci Jones where she shared some ideas about communicating with vulnerable clients.
It truly was one of the most beneficial CPD sessions I have attended in a long time. If there is a repeat, I would urge you to go along.