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Vulnerability is both widespread and tricky to define. It can be tangible/intangible, driven from single or multiple factors.
The FCA have identified Health, Life Event, Resilience & Capability characteristics/drivers to help make sense of vulnerability. The list is not definitive/exhaustive, but it helps to understand the situations that can lead to actual/potential vulnerability. Furthermore customers may be unaware of their vulnerability or may not wish to be labelled as such.
Gusto’s own self-funded research highlights the prevalence of vulnerability in the UK and suggests that it may be even more complex than originally thought… read on to find out more.
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