Regulation  

Challenges of supporting vulnerable customers through pension transfers 

  • Explain what the FCA wants from firms since consumer duty came into force
  • Explain how to identify when a client might be more vulnerable to scams
  • Understand the difference between good and poor customer outcomes
CPD
Approx.30min

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The CPD can also be used as part of the evidence of a firm’s commitment to achieving good customer outcomes for vulnerable customers and pension transfers. 

Richard Cooper is a business development manager at The London Institute of Banking and Finance

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CPD
Approx.30min

Please answer the six multiple choice questions below in order to bank your CPD. Multiple attempts are available until all questions are correctly answered.

  1. Which of the following is the odd one out? Consumer duty requires that firms:

  2. Which of the following indicates that a customer may be more vulnerable to scams or fraud?

  3. What is one of the ways firms can mitigate foreseeable harm in pension transfers?

  4. What is one of the instances in which poor consumer outcomes are more likely?

  5. How should firms demonstrate they are committed to achieving good consumer outcomes for vulnerable customers who are transferring pensions?

  6. What is one of the key things advisers should understand about vulnerable clients?

Nearly There…

You have successfully answered all the questions correctly, well done!

You should now know…

  • Explain what the FCA wants from firms since consumer duty came into force
  • Explain how to identify when a client might be more vulnerable to scams
  • Understand the difference between good and poor customer outcomes

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