In this article in Blue Chip, FISA member Wessel Wessel Oosthuizen argues that financial advisers must be equipped to identify and support vulnerable clients, particularly minors and young beneficiaries, whose legal rights often exceed their capacity to exercise them independently.
He notes that vulnerability extends beyond legal incapacity and may arise from age, grief, stress or limited financial literacy. As Wessel explains, “Vulnerability is not a legal status; it is a practical condition,” requiring advisers to exercise professional judgement, empathy and clear communication. He adds that recognising vulnerability early distinguishes mere compliance from true professionalism and is both an ethical and fiduciary responsibility.
Read here.
Wessel Oosthuizen is a CPF® and head of financial planning at Fiscal Private Clients