The Equity Release Council is set to launch a practitioner toolkit in November this year, which is designed to embed vulnerability best practice across the distribution chain.
The document will feature structured specific guidance for a range of vulnerable circumstances, adviser prompts and real-life scenarios.
This comes after the ERC and Inclusive Outcomes published a sector specific review of approaches to vulnerability in later life lending.
While the Later Life Lending and Customer Vulnerability report recognises the foundations already in place, it suggests practical tools to help firms build on this work and embed consistent good outcomes across the market.
It identified that there is already structured identification of customers in vulnerable circumstances and data capture, dedicated adviser and staff training, use of vulnerability champions and strong governance and escalation pathways being used.
The report also highlights opportunities to further strengthen consistency when it comes to monitoring and evidencing customer outcomes as well as adapting customer journeys to meet diverse customer needs.
The industry has also been urged to enhance data sharing across the distribution chain to support joined-up outcomes and embed vulnerability concerns into product and service design, including testing and review.
To meet these challenges, the report provides a series of case studies drawn from real scenarios across advice firms and lenders.
Each example provides practical evidence of what good looks like in operational settings and offers actionable ideas for firms seeking to strengthen vulnerability support within their own organisations.
Equity Release Council director of risk, policy and compliance Kelly Melville-Kelly says: “The sector has matured significantly in its approach to vulnerability — but the next phase must be about embedding consistency and driving continuous improvement.”
“We know that individuals and organisations want to do the right things but at the moment, there is often a lack of practical, expert guidance to support complex interactions.”
“Safe Steps, launching in November 2025, is designed to fill that gap and give advisers and lenders the tools to turn good intentions into confident, informed action.”
Inclusive Outcomes senior partner Lauren Peel adds: “The Financial Conduct Authority believes that almost half of UK adults have at least one characteristic of vulnerability so it is vital that sectors and organisations really consider how they can best support their customers.”
“Today’s report recognises the leadership already being shown across the later life lending sector, while offering practical ways to deepen that work.”
“The Consumer Duty has set the benchmark — now we must move beyond compliance to deliver thoughtful, tailored support that reflects the lived experience of customers.”
