In the first of two articles on advising vulnerable clients in Blue Chip magazine, Wessel Oosthuizen highlights the growing responsibility of financial advisers to identify and protect vulnerable clients.
In South Africa, where there is no unified regulatory framework for vulnerability, advisers must rely on professional judgement, ethical leadership and appropriate communication. Vulnerability can arise through grief, financial stress, cognitive decline, disability, undue influence or limited financial literacy.
Wessel stresses that vulnerability exists on a spectrum and advisers must balance legal capacity with empathy, dignity and client autonomy.
Read here.
Wessel Oosthuizen is a CPF®, FISA member and head of financial planning at Fiscal Private Clients