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A Safe Pair of Hands

560 315 Eleonore Bylo

Ellis Bates is part of the Personal Finance Society (PFS) Financial Vulnerability taskforce.

This means we adhere to nine core pledges, to express our commitment to vulnerable clients.

The body has been put in place to:

  • Change public perception through the way in which we consciously deal with those in vulnerable circumstances.
  • Address perceptions or the unconscious reality of commercial conflicts of interest.

As a member of the society (which is part of the Chartered Insurance Institute Group) we are expected to meet certain professional standards as outlined in the Code of Ethics.

The Code sets down the principles which all members should follow in the course of their professional duties and as such, we are required to;

  • Comply with the Code and all relevant laws and regulations
  • Act with the highest ethical standards and integrity
  • Act in the best interests of each client
  • Provide a high standard of service
  • Treat people fairly regardless of age; disability; gender reassignment; pregnancy and maternity; marriage and civil partnership; race; religion and belief; sex; and sexual orientation

What is Vulnerability?

The FCA (Financial Conduct Authority) definition is “We define a vulnerable consumer as someone who, due to their personal circumstances, is especially susceptible to harm, particularly when a firm is not acting with appropriate levels of care.”

It is estimated over 50 % of the adult population display at least one element of vulnerability and sits at the heart of our approach and communication towards all our clients.

For more information of this key element of accessibility to financial advice for all please visit www.thepfs.org/about-us/initiatives/financial-vulnerability-taskforce/

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