PIMFA has developed this Guide to assist firms with all aspects of supporting customers with characteristics of vulnerability in the wealth management and advice sector (the ‘sector’); however, the Guide will have relevance for all financial sectors and related firms, and has been developed with the intention of being accessible and valuable to the broadest range of stakeholders, from Board members to front-line practitioners.

This Guide is an extensive collection of practical steps and examples from across the PIMFA membership, including references and supporting tools from other external groups and organisations, which firms can use to assist in all aspects of their work on customer vulnerability, from developing a strategy to day-to-day monitoring and reporting. It is not, however, intended to act as a substitute for staff training and development, which will be specific to the profile and circumstances of each individual firm.