Insights: FCA research into experiences of consumers in vulnerable circumstances

This research doucment comissioned by the FCA to gather feedback from consumers around treatment from firms when in vulnerable circumstances. It was includes as part of their review into treatment of vulnerable customers. Summary below.
https://www.fca.org.uk/publication/external-research/vulnerability-review-improving-outcomes-consumers-engaging-financial-services-firms.pdf
Key Take Aways

Consumers with multiple characteristics of vulnerability are more likely to report poor outcomes compared to others.
Disclosure of vulnerability often leads to positive outcomes, but barriers to disclosure remain, such as concerns about receiving worse service.
The interaction between multiple characteristics of vulnerability can increase susceptibility to harm and make experiences with financial services providers more negative.
Tailored, flexible support and personal communication are key drivers of positive outcomes and trust.
Standardised, impersonal approaches can lead to poor communication ...