Pareto Financial Planning announced that it has deployed Comentis’ clinically developed Financial Vulnerability Assessment tool across the business.
All Pareto advisors will now be able to consistently and objectively identify and support vulnerable clients, providing practical, clinically-based instructions for the complex process of supporting at-risk customers.
Consumer duty mandates that firms need to identify and support vulnerable clients, Pareto move to adopt Comentis supports this.
Pareto clients will now be assessed by evaluating the customer’s financial vulnerability across the four triggers as defined by the FCA:
- Health issues
- Life issues
Using the Comentis Assessment tool, any interventions can be actioned and recorded in a timely and effective manner, and a comprehensive client report is generated at the touch of a button.
Paul Stones, Managing Director, Pareto Financial Planning, said: “Pareto is 100% focused on its clients’ welfare and outcomes. By deploying the Comentis solution, we are putting in place the necessary enhanced checks and balances to ensure we can identify any potential issues, and importantly, support those who need help.”
Jonathan Barrett, CEO and Co-Founder of Comentis, comments: “With Consumer Duty almost upon us, it’s more important than ever that firms are equipped to identify any, and indeed, all signs of vulnerability. We’re pleased to be supporting Pareto with its preparations, allowing the business to go the extra mile in supporting its vulnerable customers. Our tech-powered solution will be a significant step forward in delivering the good outcomes its clients deserve.”
Personal circumstances differ and not all of this information is applicable to every client and/or their business, this information is general in nature and should not be relied upon without seeking specific professional financial advice.
The Financial Conduct Authority (FCA) does not regulate tax advice, estate planning, trusts or will writing.
The content in this article is for your general information and use only and is not intended to address your particular requirements. Articles should not be relied upon in their entirety and shall not be deemed to be, or constitute, advice.
Although endeavours have been made to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No individual or company should act upon such information without receiving appropriate professional advice after a thorough examination of their particular situation. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of any articles.
Thresholds, percentage rates and tax legislation may change in subsequent finance acts. Levels and bases of, and reliefs from, taxation are subject to change and their value depends on the individual circumstances of the investor. The value of your investments can go down as well as up and you may get back less than you invested. Past performance is not a reliable indicator of future results.
Pareto Financial Planning Limited is authorised and regulated by the Financial Conduct Authority (FCA).