Bereavement
If a client has died, please contact our support team as soon as possible. We will guide you or the client's family through the next steps, suspend any unnecessary activity on the account, and handle the process with care and sensitivity. Adviser charges will cease as soon as we are notified.
Mental health
We have trained team members who can implement support processes for clients experiencing mental health difficulties. This may include adjusting how we communicate, allowing additional time for decisions, or working with the adviser to ensure the client is properly supported.
Cognitive impairment or disability
If a client has a condition that affects their ability to understand or engage with their accounts, we can adapt our communications and processes. This includes providing documentation in large print or alternative formats on request.
Financial difficulty
If a client is experiencing financial hardship, we will work with you as their adviser to understand the situation and ensure they are not disadvantaged. We can also provide details of independent debt counselling services if needed.
Loss of adviser
If a client no longer has a financial adviser, they may find it difficult to understand their accounts or investment strategy. We will contact the client to explain their options clearly, and a member of our team will be available to talk them through the process and any changes to fees.
Power of attorney and third-party access
If a client has granted a lasting power of attorney, or if a third party needs to act on their behalf, we can accommodate this. Please contact our team to discuss the documentation required and how we can make the process as straightforward as possible.
P1 Investment Services is a member of the Consumer Duty Alliance, and our approach to vulnerable clients is endorsed by the main board. Our commitment includes:
Fair treatment
We will always act in the client's best interests. We take steps to identify clients who may need additional support and ensure they never receive a worse experience than others.
Clear communication
We provide information that is straightforward, jargon-free and tailored to the client's needs. If a client requires information in a different format, we will make that happen.
Trained team
Our staff are trained to identify and support clients in vulnerable circumstances with empathy, professionalism and respect. We recognise that vulnerability relates to circumstances, not categories of people.
Continuous improvement
We regularly review our processes, communications and outcomes for clients with additional needs. Where we identify gaps, we act on them.
How do I let P1 know about a client's vulnerability or additional needs?
What happens when a client on the P1 Platform dies?
Can a client's family member or carer access their account?
Does P1 provide information in alternative formats?
What if a client no longer has a financial adviser?
How does P1 train its staff to support vulnerable clients?
