Members of the leading later life sourcing platform can now access Comentis’ vulnerability assessment tool.
The tool is fully aligned with the Financial Conduct Authority’s (FCA’s) four drivers of vulnerability and Consumer Duty regulations.
It helps advisers to identify and document potential vulnerabilities among clients.
The tool combines cutting-edge technology with the expertise of mental health and psychology specialists to provide an accessible and cost-effective digital assessment.
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One-click access
Advisers registered on Comentis can access the tool with one click, as client information from Advise Wise is prefilled.
Benjamin Wells, head of product and development at Advise Wise, said: “Our partnership with Comentis reflects Advise Wise’s commitment to supporting later life advisers with the resources they need to provide the best advice to clients, especially in cases of vulnerability.
“We’re excited to offer this streamlined, reliable tool, and we believe this partnership will have a positive impact on advisers, their clients, and on the industry as a whole.”
He continued: “By joining forces with Comentis, we’re able to empower advisers across the later life market, enabling them to provide more tailored support to their clients, with the confidence that they are meeting their regulatory obligations on vulnerability.
“Together, we are helping set a new standard for service quality and client protection in the industry.
Jonathan Barrett, chief executive at Comentis, said: “Despite it being well over a year since Consumer Duty was introduced, regulatory scrutiny around vulnerability continues to increase, so it’s more important than ever for advisers to be fully equipped to identify any, and indeed all, signs of vulnerability.
“Our market-leading software will ensure that all Advise Wise members will be able to better identify their financially vulnerable clients quickly and efficiently.”
At the end of September, Advise Wise brought out a later life mortgage comparison calculator.
