A Cumbrian firm has been recognised for its support for vulnerable clients for the second year in a row.

Financial Management Bureau (FMB), based in Kendal, has won the title of Company of the Year in the Just Group 2023 Vulnerable Customer Awards.

It comes after FMB had received high commendation in the same category last year.

Alongside, FMB has demonstrated its dedication to the cause by appointing Sue Walling as its vulnerability champion.

Furthermore, the firm also conducts a focused training under its vulnerable customers programme for its team.

FMB director of business development Ruth Power said: "We look after every single client with highly individual advice, but for some clients there is an added layer of complexity due to a wide range of vulnerabilities."

"These can apply to anyone at any time and may affect decision-making or the ability to understand financial concepts.

“This is not just about dementia or ageing, some of our most elderly clients may be perfectly capable of understanding all their financial decisions, but sometimes we can be vulnerable temporarily, for example, following a bereavement.

The Westmorland Gazette: FMB at the Just Awards 2023FMB at the Just Awards 2023 (Image: FMB)

She continued: “In other cases, a medical condition can mean a client requires additional support or may need communications to be adjusted to suit them.”

The Vulnerable Customer Awards are instituted by Just Group, an organization prominent in the UK retirement market and are also advocates of the Personal Finance Society Vulnerability Task Force.

Just Group's group communications director, Stephen Lowe, applauds FMB stating: "That FMB has won their category this year and came highly commended last year, speaks volumes for their commitment to this important issue."

He also shed light on the winning criteria saying that the judges were particularly impressed by the way FMB utilized data and analysis to continuously evaluate and enhance their Vulnerable Customers Programme.

He further added: "The firm then takes this information and makes sure colleagues are clear that looking after vulnerable customers is part of the firm’s culture and trains colleagues in how to do this."

He concluded by congratulating the entire team at FMB, expressing that the win was well deserved.

For additional details about FMB, visit its website at www.finman.co.uk.