Supporting vulnerable clients
This month is a powerful reminder that not all conditions are visible. Mental health challenges are often hidden, and despite growing societal awareness, a lingering stigma means many still feel hesitant to seek help or discuss their experiences.
The truth is simple but powerful: it is OK not to be OK. Every individual deserves to feel heard, supported, and understood—especially when navigating life’s important decisions. That is why we are passionate about creating a safe environment for each of our clients and compassion is part of every conversation.
The changing face of vulnerability
Recent research, including the Changing Face of Vulnerability Survey commissioned by NICE, paints a striking picture of mental health and vulnerability today:
- 67% of consumers surveyed by the Financial Conduct Authority (FCA) may be considered vulnerable under FCA criteria, even though only 17% self-identified as such.
- 71% of consumers surveyed by the FCA correctly associate poor mental health with vulnerability—but 38% say they would not feel comfortable discussing their mental health with a customer service advisor.
- Financial pressure, lifestyle changes, and unexpected life events (e.g. becoming a carer) are major drivers of vulnerability. Yet many affected individuals hide financial struggles and emotional difficulties from even close family.
- Vulnerability is not confined to older generations. Younger adults and those undergoing life transitions can be significantly impacted. For instance, over a third (37%) of Gen Z respondents reported poor mental health.
A key takeaway of this research is that vulnerability is nuanced and often hidden. It can affect anyone, at any time, and often without obvious signs.
What is The Penny Group doing to support client well-being?
At The Penny Group, we are committed to ensuring that all our clients receive personalised, compassionate, financial advice, whatever their circumstances. Recognising how complex a client’s circumstances can be, we have taken significant steps to better understand and support where clients may need a more individual approach:
Introducing a client well-being survey
We have recently introduced a well-being survey designed to help to get to know our clients even better. This helps us to understand if someone may be facing challenges that aren't immediately visible, we can still ensure we adapt our advice appropriately to suit their needs.
Flexible and client-centred meetings
If a client would benefit from shorter or more frequent meetings, or would prefer to have a trusted family member or friend join their discussions, we are fully supportive.
Additional support measures
Our advisers are trained to recognise the subtle signs that someone may be facing personal challenges and respond with empathy. We understand that these circumstances are not fixed—they can change over time—and we adapt our service as our clients’ needs and situations develop.
A 'No One-Size-Fits-All' approach
We understand that every client's journey is unique. Our approach is rooted in flexibility, compassion, and a deep commitment to achieving the best outcomes for every individual we support.
Get in touch
At The Penny Group, we believe financial advice should be a source of reassurance and empowerment. While Mental Health Awareness Month shines an important spotlight on well-being, our commitment to creating a safe space where every client can get the support they need in their financial journey is at the heart of what we do—all year round.
If you would like to find out more about the support we can offer to our clients, or if you have any concerns you would like to share, please do not hesitate to get in touch.
Email info@thepennygroup.co.uk or call 0207 061 2345 if you have any questions or should you wish to speak to one of our advisers.
