Our
Clients

Financial
Planning

Investment
Philosophy

About
WealthFlow

Latest
Comment

Contact

Our
Clients

Financial
Planning

Investment
Philosophy

About
WealthFlow

Latest
Comment

Contact

Our
Clients

Financial
Planning

Investment
Philosophy

About
WealthFlow

Latest
Comment

Contact

Financial Vulnerability Taskforce.

In February 2021, WealthFlow registered its support for the PFS Financial Vulnerability Taskforce, highlighting our commitment to promote greater understanding, encourage appropriate behaviours, and establish good practice in respect of consumer vulnerability.

Financial Vulnerability

Duncan Glassey, Managing Director at WealthFlow Group Limited, says, “At WealthFlow, our clients in vulnerable situations, either transitional or permanent, benefit from the exceptional client experience for which we have become known. Our experienced team ensures our clients are supported at every stage, enabling them to feel confident in their decisions. As such, encouraging good practice and appropriate behaviours by adhering to the nine principles set out by the Financial Vulnerability Taskforce is second nature to our firm, and we are delighted to show our commitment to the charter.”

The Financial Vulnerability Taskforce Charter has nine principles:

1. Financial services often involve the application of specialist and technical knowledge, which places many clients in a position of dependency. As such, this imposes upon us a duty to act in the client’s best interests.

2. We have an obligation to use ‘best endeavours’ and place our clients’ interests above our commercial interests.

3. We recognise vulnerability can manifest itself in either physical, mental or emotional form (knowingly or otherwise), is dynamic in nature (short-lived or longer-term, sometimes permanent, transient, recurring or fluctuating over time) and may be hidden.

4. When working with clients who seek to access our services, we treat all fairly, regardless of their identity, age, gender, race, sexual orientation, disability, gender reassignment, religion or belief, and guard against making assumptions about individuals.

5. We believe language and terminology are important. Vulnerability relates to circumstances and not a category of person. As such, descriptions such as ‘those in vulnerable circumstances’ should be used at all times instead of ‘vulnerable individuals’, except when only referring to individuals or groups of individuals where vulnerability is permanent.

6. We recognise people in vulnerable circumstances, are often unaware of their vulnerability, and, if they are aware, might not acknowledge it nor wish to be described as vulnerable. We, therefore, accept heightened professional obligations towards clients in vulnerable circumstances; and the need for raised awareness, greater sensitivity, and additional technical competencies.

7. We seek to recognise clients in vulnerable circumstances and encourage all to self-declare if appropriate, safe in the knowledge we will:

 i. Adapt our business processes and professional services, so our clients do not suffer detriment at any point as we seek to deliver outcomes at least as good as for those who are not in vulnerable circumstances.

ii. Maintain confidentiality and ensure our behaviours are fully compliant with all relevant legislation, including The Equality Act (2010), Consumer Protection regulations, The Mental Capacity Act 2005 and data protection, including GDPR.

iii. We see the application of the above as ‘business as usual’ and not part of separate compliance or ‘stand-alone’ exercise.

8. We seek to enable all members of our organisation to deal compassionately, empathetically and effectively with those in vulnerable circumstances by raising awareness of vulnerability and by providing training to all within our organisation.

9. When we encounter clients in vulnerable circumstances, they may be in immediate danger of significant abuse or harm or may need immediate support. We will take action to contact the appropriate authorities to mitigate the risks they face.

Please contact us for more information about WealthFlow’s commitment to the Financial Vulnerability Taskforce.

To discuss how our investment philosophy
can meet your needs, please get in touch >>

© 2021 WealthFlow Group Limited : All Rights Reserved | Privacy | Cookies Policy

Head Office & Consulting Rooms: Abbey House, 83 Princes Street, Edinburgh EH2 2ER.

Mail correspondence to our Central Scotland Admin Hub: WealthFlow Group Limited, PO Box 14947, Grangemouth FK3 3AU.

Authorised and regulated by the Financial Conduct Authority

For your protection, unresolved complaints can be referred to the Financial Ombudsman Service.

Registered in Scotland No SC635011. Registered Office: 15 Atholl Crescent, Edinburgh EH3 8HA.

© 2020 WealthFlow Group Limited
All Rights Reserved | Privacy | Cookies Policy

Head Office & Consulting Rooms: Abbey House, 83 Princes Street, Edinburgh EH2 2ER.

Mail correspondence to our Central Scotland Admin Hub: WealthFlow Group Limited, PO Box 14947, Grangemouth FK3 3AU.

Authorised and regulated by the Financial Conduct Authority

For your protection, unresolved complaints can be referred to the Financial Ombudsman Service.

Registered in Scotland No SC635011. Registered Office: 15 Atholl Crescent, Edinburgh EH3 8HA.