SimplyBiz has launched a ‘Vulnerable Clients Week’ campaign, intended to help members support their clients during a “vulnerability epidemic” exacerbated by the Covid-19 pandemic.

The campaign, which starts today (28 March), will cover topics such as regulatory activity around vulnerable persons, implications of Consumer Duty and approaching awkward conversations with clients.

It will also discuss the role of developing tech to identify vulnerability and how to work with those who become vulnerable later in life, as well as supporting changing mental health needs.

The campaign has contributions from SimplyBiz’s own specialists, but also those from the Financial Vulnerability Taskforce, Just, Comentis, Crystal Specialist Finance and The Exeter.

According to Janice Laing, managing director at Compliance First and lead of SimplyBiz’s work on vulnerable clients, the week will cover a broad range of material, which will be delivered in several formats.

She explained that the week would focus on practical guidance, helping advisers to understand the regulator’s position and provide examples that worked well for other firms.

Laing said: “The strains of the pandemic upon mental, physical and financial wellbeing have been severe in some cases, and we know that our members are eager to ensure that they are able to identify vulnerable characteristics in clients, have open and compassionate conversations, and support individual clients in finding the best outcome.”

Comentis chief executive Jonathan Barrett, one of the week’s contributors, added the campaign was designed to help advisers who are neither trained nor able to spot vulnerability signs.

This can include mental health pressures.

“Raising awareness around vulnerability in this space is more important than ever,” said Barrett.

“We hope this week can help support advisers with the practical information they need and give them the tools they require.”

SimplyBiz will be making much of the week’s material available to non-members on its website in acknowledgement that the support of vulnerable people is an industry-wide issue.