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Steve Cook Financial Adviser

We work extremely hard to ensure our vulnerable clients are treated fairly and consistently by all our financial planning teams.

Steve Cook, Financial Adviser & Director, Lonsdale, St Albans

Protecting Vulnerable Clients

According to the Financial Lives Survey issued by the Financial Conduct Authority (FCA) in July 2019, almost 50% of adults display one or more characteristics of being potentially vulnerable. These include:

  • Health
  • Life Events
  • Resilience
  • Capability

At Lonsdale Services we aim to identify and assist clients and prospective clients who may be considered vulnerable by virtue of their age, disability or other circumstances.

How Lonsdale Services support vulnerable clients

Although vulnerability can come in many forms, it is important that we deal with all clients’ appropriately, fairly and consistently. We have a Lonsdale Services Vulnerable Client Policy. Our Lonsdale Services Client Charter also recognises vulnerability.

All our colleagues are committed to making sure that we treat any vulnerable client as an individual. We will do this by being:

  • Flexible in our approach to client communications
  • Empathetic to any specific needs or concerns they have

We provide training to all our colleagues to identify the key indicators of vulnerability and offer appropriate support and solutions for individual client cases. Our Lonsdale vulnerable client group involves colleagues from several offices who meet regularly to provide guidance to our independent financial advisers on new regulations to ensure we always put our clients’ interests first.

Lonsdale Services shows a commitment to understanding vulnerable clients by being a member of SOLLA – Society of Later Life Advisers. Allan Ross our independent financial adviser in Ware is SOLLA accredited. SOLLA helps people and their families in finding trusted accredited financial advisers who understand financial needs in later life.

Lonsdale Services supports the Alzheimer’s Society

Lonsdale Services was the first financial adviser in Hertfordshire to become a corporate partner of the Alzheimer’s Society. At Lonsdale Services we have two Dementia Champions who have trained other colleagues to become Dementia Friends.

Lonsdale colleagues has also raised over £5,000 for the Alzheimer’s Society in several organised fundraising activities.

As part of our commitment to helping clients we launched a ten-point plan to support clients living with dementia.

  1. Encourage clients to set up a will and Lasting Power of Attorney (health & welfare and property & financial affairs).  Office of Public Guardian has leaflets for offices and e-learning videos.
  2. Encourage both partners in a civil partnership/marriage to understand their finances.  Educate our clients about investments.  Recommend they set up a Lonsdale Services Financial Passport detailing their financial assets.
  3. Ensure anyone living with dementia has their power of attorney present at review, or where this isn’t possible their legal representative, trusted friend or relative.  Paperwork to also be sent to their power of attorney, legal representative and relatives.
  4. Consultants to review how they interact with anyone living with dementia.  Be patient, listen and clearly explain paperwork that requires signing. Always copy paperwork to the power of attorney.
  5. Our Lonsdale Services vulnerable client group will support clients living with dementia and review client feedback.  Regularly review Alzheimer’s Society and FCA recommendations for clients living with dementia.
  6. Encourage more Lonsdale colleagues to become Dementia Friends.
  7. Identify and train one employee to become a dementia specialist from each office.
  8. Amend our HR policies for anyone personally affected by dementia or caring for someone who is.
  9. Review the Dementia Friendly business guide toolkit to support anyone living with dementia.
  10. Write detailed and consistent client notes relating to dementia on our Intelliflo database, so everyone working with a client who is living with dementia understands their personal and unique issues.

pdfLonsdale Services Vulnerable Client Policy

About Lonsdale Services

About Us

We operate as an Independent Financial Adviser offering a completely new and holistic approach to financial advice and financial planning for you and your family, your company and trustees.