Financial Planners are underestimating the number of clients that could qualify as vulnerable under Financial Conduct Authority guidelines, according to a new report.

Make no mistake, the requirement to develop strategies which can recognise and appropriately service the needs of vulnerable customers is a big deal in financial services this year.

A survey by three leading professional bodies has revealed that over 1 in 3 finance professionals considered themselves to be vulnerable during the past 12 months.

A poll of Chartered Insurance Institute and Personal Finance Society members has revealed that the biggest barrier financial professionals face when trying to help consumers was being able to openly discuss vulnerability with them.