Simplifying compliance requirements around identifying and reporting on financial vulnerability

Comentis provides regulated firms with the ability to consistently and objectively identify financially vulnerable clients through a simple to deploy, clinically developed online assessment process.

The unique assessment process flags those at risk and allows advisers to log both interventions and outcomes. All of which feeds into our vulnerability dashboard which has been built as part of the FCA innovation Hub program.

Assessments can be discretely integrated into existing client journeys (onboarding, factfind, KYC) & advice processes, providing a seamless experience for clients whilst enabling your clients to meet growing regulatory requirements more easily.

You can find more information and an explainer video on our Financial Vulnerability webpage

How it works

Through a limited number of non-invasive questions, clinically developed algorithms identify customers at risk of financial vulnerability, including resilience and capability drivers.

On completion of an assessment a detailed vulnerability report is created for the client’s file. Through our intervention log, any recorded actions are also incorporated into each report, providing a complete audit trail.

Comentis is also integrated in a growing number of client management platforms including Intelliflo, Time4Advice and Iress.

Unrivalled Analytics and Reporting

Comentis provides compliance firms with unrivalled analytics and reporting around financial vulnerability and mental capacity. Using the primary data from the assessments, our App provides clear and straightforward reporting on:

• User analytics – what advisers have done what
• Risks Identified – what vulnerability risks exist in a client base
• Interventions and outcomes – what actions have been taken and what risks have been confirmed, mitigated
• access to our Vulnerability Dashboard, providing oversight on vulnerabilities.

By ensuring your clients use our App you will not only be ensuring they consistently identify vulnerable clients, but also make the future recording of actions and reporting to the regulator easier, quicker and more accurate.

Class leading expertise

What sets Comentis apart is its clinical pedigree and team of inhouse experts, each contributing years of experience in the fields of mental health assessments, clinical psychology, and mental capacity. Developed alongside financial services professionals, Comentis delivers an unrivalled solution for the identification of the financially vulnerable.

Comentis has gained support from the FCA in developing the App as part of the FCA Innovation Hub Program. They are also subject matter experts on the PFS Vulnerability Taskforce and members of the TISA vulnerability Working Group and TisaTech.

“Vulnerability is so challenging for financial advisers to identify objectively, yet in these times more financial advice customers than ever are likely to fall into that category. Not only does the Comentis solution help firms meet their regulatory obligations, it also enables advisers to evidence this and sensitively approach vulnerability, leading to better outcomes for the end-customer.”   

Marjolaine Quirke

Director of Client Delivery, Tenet Compliance Services

Contact details

Email: Joe@comentis.co.uk

Tel: 07496244431

www.comentis.co.uk/financial-vulnerability

Click here to view our latest webinar delivered to APCC members on Vulnerability.