Comentis

Financial Vulnerability Assessment

Comentis allows advisers to consistently, objectively and cost effectively identify and support clients who are at risk of financial vulnerability. We do this through an easy to use clinically backed assessment process that is integrated with intelliflo Office.

As well as flagging clients who are deemed vulnerable under the FCA’s guidelines, the App also provides guidance on what to do next and how to respond in these circumstances, not to mention providing a clear audit trail around vulnerability assessment.

How it works

By collecting a limited set of data from your clients we are able to carry out a clinically developed assessment to provide an immediate evaluation of financial vulnerability.

Each assessment consists of two groups of questions, each designed to identify the vulnerability triggers identified by the FCA:

  1. Factfind based questions – these can be completed as part of your existing client meeting and fact-find process.
  2. Self-rating psychometric questions – These need to be completed by your client (online or offline through a downloadable question set) and allow us to assess resilience and capability, a key area of focus of the FCA.

The results not only identify those at risk, but also the nature of the risk and potential next steps – all documented in a client specific report that will be automatically saved against the clients record.

Clinically-developed assessments provide piece of mind

Each of our assessments are developed by our inhouse team of psychologists and mental health assessment specialists.

The Clinical team is lead by Tim Farmer, widely considered as one of the leading experts in the assessment of Financial Vulnerability and the team also includes the Chair of the European Board of Assessment, Nigel Evans, who is a highly acclaimed specialist in the field of psychological assessment.

Industry Validation – you are in safe hands

Comentis have spent over 16 months developing our Financial Vulnerability Assessment model and since launching we have received praise from industry leaders and trade bodies alike.

  • We are a member of the PFS Financial Vulnerability Taskforce, with Tim Farmer being the assessment subject matter expert.
  • We regularly run webinars with the LIBF on Financial Vulnerability and have received strong support for our App.
  • We are working with the Equity Release Council to help build out a later Life Lending FV assessment and support program.