Vulnerable consumers
Consumers at risk of vulnerability
This guide is designed to help practitioners and regulatory bodies apply the consumer principles when designing services to meet the needs of consumers at risk of vulnerability.
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Building on the Panel’s previous publication on the internationally recognised consumer principles, this guide is designed to help practitioners and regulatory bodies apply those principles when designing services to meet the needs of consumers at risk of vulnerability.
The guide discusses how we define vulnerability, how we should identify vulnerable risk factors, the different and varying degrees of vulnerability, and explores the significance of the power imbalance between practitioner and client.
Finally, the guide poses questions for regulators, service providers/firms and the SLCC and other complaint handling bodies to self-assess their effectiveness in dealing with consumers at risk of vulnerability.