Comentis helps firms identify and support vulnerable clients through its digital Financial Vulnerability Assessment, which helps firms to evidence good outcomes.
Clients of Paradigm Consulting will receive a 10% discount for the Comentis service, which is being used by more than 1,000 advice firms and has carried out over 300,000 assessments.
Bob Hunt, managing director of Paradigm Consulting, said: “One of the ongoing challenges advisory firms face is both identifying and supporting vulnerable customers in what is a difficult environment, and where the signs of vulnerability might not always be easily visible. At the same time, advisory firms have to meet their regulatory – and client – responsibilities in this area, and this new strategic partnership with Comentis gives our clients access to a digital solution which can do all this and much more.
“This solution is at the cutting edge of what is achievable and we’re looking forward to working with the Comentis team and highlighting its proposition to our advisory firm clients, in what is a very important area for all.”
Jonathan Barrett, chief executive and co-founder of Comentis, said: “With the FCA’s unwavering focus on the Consumer Duty, firms must ensure they are not only supporting their vulnerable clients, but doing so with consistency and depth. We are delighted to announce our strategic partnership with Paradigm Consulting, which will empower their clients to meet these regulatory requirements and, crucially, provide the robust evidence needed to demonstrate positive outcomes for those in vulnerable circumstances.
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“The FCA estimates that one in two adults may be at risk of financial vulnerability. Identifying these individuals is a critical first step in ensuring they receive the support they deserve. It is time for duty of care to evolve; client vulnerability should no longer be viewed as a tactical checkbox, but rather as a core strategic driver for every firm. We are pleased to support Paradigm Consulting and its clients on this important journey.”
