Client vulnerability survey launched for advisors

October 10, 2024 by Brendan O'Neill

Mortgage Advisors

A brand new survey has been launched online that looks into the issue of client vulnerability within the mortgage sector, and advisors are being asked to provide their thoughts on the problem.

This survey has been put together by Smart Money People in collaboration with 24 lenders, industry bodies, networks and clubs. It is called Vulnerable People and the aim of it is to get a better grasp of the problems faced by mortgage advisors when it comes to helping struggling clients. This includes how they figure out which clients are in that position and what prevents them from revealing the concerns they have about vulnerable clients.

Those behind the survey are hoping they can get as many advisors to fill it out as possible. The feedback provided will be completely anonymous and will enable lenders to develop more effective strategies for supporting advisors with vulnerable clients.

Among the major mortgage lenders backing the survey are Sesame Bankhall Group, Paradigm, Accord, Newcastle BS and Buckinghamshire BS. It also has contributions from the Association of Mortgage Intermediaries (AMI).

Questions that the survey raises include whether advisors grasp the full meaning of the term ‘vulnerability’, as well as what training or support they think they need to be able to help vulnerable clients.

It will be open until the middle of October. Then, Smart Money People will collate and analyse the responses.

This is something that many people with CeMAP mortgage advisor training should be completing, as the industry needs more insight into the issue of vulnerability.