The Financial Vulnerability Taskforce and its Charter.

AV Trinity is proud to have signed up to the Financial Vulnerability Taskforce and its Charter.

The Financial Vulnerability Taskforce is a newly created independent representative body covering the Personal Finance Sector whose ultimate purpose is to:

• Promote greater UNDERSTANDING.

• Encourage appropriate BEHAVIOURS.

• And establish GOOD PRACTICE in respect of consumer vulnerability.

It will act as an informed source of positive influence on both policymakers, professionals and the general public alike. In doing so, we hope that professionals working across the Personal Finance Sector are increasingly seen as a ‘safe pair of hands’, especially by those who find themselves in vulnerable circumstances.

What does this mean for our clients?

By adopting the Charter, we agree to abide by nine commitments:

1.  We are a safe pair of hands.

2. We put our clients’ interests above our commercial interests.

3. We recognise vulnerability in its many guises.

4. We avoid client assumptions.

5. We believe that language and terminology is important.

6. We uphold our professional obligation to behave with sensitivity.

7. We will adapt processes to maintain confidentiality.

8. We ensure our staff are knowledgeable and appropriately trained.

9. We will offer immediate support.

The Charter in practice

One area of advice we provide is to those going through or just coming out of a divorce. We understand that divorce is a truly unsettling and highly stressful period in people’s lives, involving cognitive, physical, emotional and legal separation. This places those going through this in a highly vulnerable state and we have the knowledge, skills and tools to support people at such an important time, advising them on many financial aspects of the pre and post-divorce settlement.

We will work collaboratively with solicitors and other appointed professionals to meet our clients’ needs.

Find out more

You can learn more about the advice and support we offer on divorce finances on our divorce finances webpage.

You can also learn more about the Taskforce and Charter on our dedicated webpage, and on the Personal Finance Society (PFS) website.

This article offers information about financial planning and should not be taken as personal advice.