PIMFA
Against a backdrop of changing customer expectations and needs, regulatory fines, Dear CEO letters and frequent regulatory announcements, the need for Wealth Managers, Private Banks, and Financial Advice and Planning Firms to deliver improved outcomes for customers with characteristics of vulnerability has never been greater.
But just what is expected of firms?   What does ‘vulnerability’ really mean for our sector, clients, and work?   And how do we take realistic, relevant, and proportionate action to address it?
To ensure your firm’s approach to the identification, treatment, and outcomes monitoring of customers in vulnerable circumstances meets the FCA’s forthcoming guidance and expectations, we discuss with Christ Fitch, Vulnerability Lead Consultant, The Money Advice Trust  how your firm can:
- Design, execute and transform your strategy and operating model to better deliver for customer vulnerability.
- Align your approach to customer vulnerability with industry best practices.
Implement new approaches to understanding, managing, and serving customer vulnerability. - Create a commercially realistic and impactful plan for dealing with your firm’s most critical challenges for customers with characteristics of vulnerability.
More about Chris Fitch
Dr Christopher Fitch is Vulnerability Lead at the Money Advice Trust and a Research Fellow at the Personal Finance Research Centre (University of Bristol).
Chris is a Fellow of the Royal Society for Public Health and has a PhD from the Institute of Psychiatry, Psychology, and Neuroscience at King’s College London. Since 2007, Chris has led a programme of guidance, research, training, and intervention on vulnerability.  This programme has involved improving practice in more than 400 firms, over 40,000 staff, and across the financial and essential service sectors.  Chris has also co-created industry-wide tools for working with vulnerable customers such as TEXAS, IDEA, and BRUCE, as well as co-founding award-winning Vulnerability Academies with UK Finance (for firms) and the UK Regulators’ Network (for regulators).
Previously Chris was a Research Fellow and Head of Policy at the Royal College of Psychiatrists where he led research programmes and national mental health policy development. Prior to this a Researcher at Imperial College Medical School where he worked on international WHO and United Nations research studies and public health projects in the areas of drug injecting, sex work, and HIV and STD prevention.
More about Alexandra Roberts
Alex joined PIMFA in June 2017 as a Policy Adviser, where she works on a wide range of regulatory matters, engaging with policy makers and the regulator to promote members’ interests.
She previously worked for the Association of Professional Financial Advisers (APFA) in the same capacity. APFA merged with the Wealth Management Association (WMA) to form PIMFA.
Alex has a legal background, having studied law at Cambridge University and was called to the Bar in 1997. She was a tenant at Lamb Chambers, Temple where she specialised in personal injury claims, contractual disputes and professional negligence. Alex has experience of advisory, drafting and court work including appearances in the Court of Appeal, the High Court and county courts.
