The firm said the launch of its vulnerability hub came a year after the findings of the Financial Conduct Authority’s (FCA) Financial Lives Matter survey were revealed.
The FCA’s survey found that at least half of all adults had at some point been classed as vulnerable.
Following the pandemic, it is likely those classed as vulnerable will have increased not only with customers, but with advisers too, the network claimed.
It also believed further vulnerabilities were likely as the cost of living increased.
The vulnerability hub will include a ‘Time to Talk’ feature where members can seek a safe space to discuss their own mental health and wellness.
Tools on offer for members of the network include training for principals and advisers in identifying and supporting vulnerable customers.
It will also include guides, webinars, FCA guidance, video introductions and support facilities.
The network said it was committed to building and updating the hub on an ongoing basis, adapting to their member’s needs and the demands of customers over time.
The network has also appointed ‘vulnerability champions’ from all departments who are in situ to help members in addressing customer vulnerability and their own wellbeing needs, should they need that support.
Ben Allen (pictured), compliance director at The Right Mortgage said: “I’m proud that we continue to review our guidance and support to network 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.”
