Mortgage Advice Bureau (MAB) has deployed a financial vulnerability assessment tool throughout its dealer community.
Developed by obligation of care firm Comentis, the tool will assist MAB to establish and assist weak clients.
It shall be rolled out to MAB’s dealer community in August 2025, following a profitable four-month trial.
The tool will assist to guarantee clients are getting the suitable outcomes, and supplies advisers with clear info/knowledge to allow them to provide tailor-made assist to clients.
It will enable clients to enter further details about their circumstances, which can create extra constant, correct knowledge, and a rise in identification charges.
MAB group chief danger officer Paul Gill says: “We’re excited to be implementing the Comentis tool throughout MAB. This improvement is essential to serving to MAB guarantee we proceed to meet the Consumer Duty necessities.”
“It’s additionally testomony to how we’re adapting the best way by which we higher assist each clients and advisers, notably when it comes to figuring out vulnerability.”
Comentis chief govt Jonathan Barrett provides: “Following a profitable trial, we’re delighted to be supporting Mortgage Advice Bureau with the implementation of our tool.”
“The mortgage sector has an important position to play in safeguarding weak clients, notably as regulatory focus continues to enhance, particularly round identification, assist and knowledge.”
“Implementation of this tool is a big step ahead in guaranteeing mortgage intermediaries meet these essential obligations, guaranteeing that weak clients obtain the assist they want and deserve.”
