Stonebridge has launched new functionality in its wholly-owned trading platform, Revolution, that will help advisers identify and support vulnerable customers.
Working as a series of prompts for appointed representative (AR) firms and advisers to follow, Revolution will look for and highlight any signs of potential customer vulnerability through its factfinding process.
Advisers will be asked if they have considered the potential vulnerability and to record whether the circumstances make someone more vulnerable to harm.
Customers can also self-record any vulnerable circumstances as a way of seeking support.
The move is designed to help firms and advisers keep customers ‘front and centre’ of the advice process, while preparing for the implementation of the Consumer Duty rules in July.
Stonebridge chief executive Rob Clifford comments: “Following the publication of the FCA’s research highlighting the rise of UK adults showing one or more characteristics of vulnerability, we all have a duty to continue ensuring those in vulnerable circumstances receive an outcome that as just as good as those who aren’t.
“This enhancement to Revolution is not just about delivering additional support and efficiency to our AR firms to be ready for the implementation of the Consumer Duty rules from July, but to also help keep customers front and centre of the advice process.”
