The hub features educational content and resources with an aim to make vulnerability, and identifying it in clients, a priority for its member firms.
The hub includes a vulnerability checklist which will become mandatory to complete a full assessment of each client. There are also sales aids and safe places for advisers to go to if they personally need support.
Victoria Wilson, equity release manager at The Right Mortgage Network, said: “We are very proud to announce the introduction of The Vulnerability Hub to our network adviser site and the extra steps we are introducing to all our product sales processes.
“The team of vulnerability champions have worked very hard to get as much resource together as possible and we wish to continue to work and assist our advisers in this area; not only to help their customers but to also create a supportive place for them as well, if they need it.”
Martin Wilson, chief executive officer of The Right Mortgage Network, added: “Vulnerability is often attributed to older clients or those with varying degrees of capacity; this project, however, aims to highlight the different types of clients who could be classed as vulnerable and draws an important focus for advisers in how they identify these clients and adjust their processes and behaviours accordingly.
“We are very excited to launch this initiative for our members and recognise the impact this could have on our members and shaping the industry’s reactions to vulnerability too.”