Vulnerability levels

There are three stages of vulnerability that advisers should be aware of. Clients can move through each stage many times in their lives; some may never move, while others may move backwards as well as forwards.

•Potentially vulnerable: a client who is at risk of becoming vulnerable if their circumstances change – eg, they are solvent, but their employer is threatening redundancy.
•Vulnerable: a client who is more likely to experience financial or other types of harm, loss or disadvantage – eg, they are elderly and have no support.
•Particularly vulnerable: a client who needs a different approach or extra help from an adviser or a third party – eg, they have an addiction.

It is important to be aware that actions taken by a debt adviser can improve or worsen the client’s situation. Because of this, advisers have a responsibility to ensure that vulnerable clients are safeguarded and supported.