TRM Network updates vulnerability training and resources

Published on

The Right Mortgage and Protection Network has introduced its Vulnerability Hub, built to address the difficulties vulnerable consumers have when interacting with financial services.

A year ago, the FCA’s Financial Lives Matter survey found that nearly half of UK adults showed one or more signs of vulnerability,

The network says that, following the pandemic, it is likely those classed as vulnerable will have increased not only with customers, but with advisers too. Further vulnerabilities are likely come to the forefront as there is an increase in living costs affecting hundreds of thousands of people in the coming months. Furthermore, fraudulent financial scams are on the rise creating more hurdles for many, the network argues.

The new hub is designed to help members in not only recognising and supporting vulnerability in their customers but it also provides a wealth of resource to address their own wellbeing alongside the network’s new ‘Time to Talk’ feature where members can seek a safe space to discuss their own mental health and wellness.

The tools on offer for members of the network include training for principals and their advisers in identifying and supporting vulnerable customers. In addition, new resources on offer in the form of guides, webinars, FCA guidance, video introductions and support facilities, will enable the members to have a new central location to access the content and signposting, on-demand.

Ben Allen, compliance director at The Right Mortgage, said: “I am proud that we continue to review our guidance and support to Nnetwork members around the topic of vulnerability. Our ‘vulnerability champions’ have put in a lot of effort over the past few months to produce a website that goes beyond how to identify consumer vulnerability. It seeks to provide guidance on how to support consumers and our advisers too.”

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Spring surge in property listings creates market opportunities

The average asking price for newly listed properties has risen by 1.1% (+£3,876) this...

Secure Trust Bank Commercial Finance appoints senior portfolio director

Secure Trust Bank Commercial Finance (STB CF) has announced the appointment of Carl Pykett...

Inflation expectations rise slightly as BoE releases latest survey

Public expectations for inflation and interest rates have edged higher, according to the Bank...

£1 billion lost annually as 50,000 London social homes used fraudulently

A shocking new report reveals that around 50,000 social housing properties in London are...

Other news

Spring surge in property listings creates market opportunities

The average asking price for newly listed properties has risen by 1.1% (+£3,876) this...

Secure Trust Bank Commercial Finance appoints senior portfolio director

Secure Trust Bank Commercial Finance (STB CF) has announced the appointment of Carl Pykett...

Inflation expectations rise slightly as BoE releases latest survey

Public expectations for inflation and interest rates have edged higher, according to the Bank...