Harold Stephens Wins Two National Awards For Vulnerable Client Care
We are delighted to announce Harold Stephens has been awarded the ‘Company of the Year – up to 5 advisers’ in the Just Group Vulnerable Customer Award for 2023 after also winning it in 2022. Amy Wood, responsible for Community Engagement, has won the ‘Vulnerable Customer Champion’ award this year.
These national awards, voted for by peers in the industry, recognise outstanding progress within individual firms in helping people in vulnerable circumstances. For a firm with a small but passionate team, this is a huge achievement.
Harold Stephens is a specialist later life financial planning firm, and the team is passionate about helping people make the most of their financial resources, especially those who may find themselves in vulnerable circumstance. The firm has a number of policies and procedures in place to identify and support vulnerable clients, including:
All staff are trained to identify and understand vulnerability.
Everyone is a Dementia Friend and the firm make videos about being a dementia friendly business.
The firm has a dedicated vulnerability champion in Amy Wood, who is responsible for the firm's vulnerability strategy and providing support to staff and clients by utilising community connections to signpost clients and non-clients to help that is available.
Regular events are organised for clients and the local community such as coffee afternoons, summer fairs and more recently a talent show for older people! Providing opportunities for making new social connections will hopefully lead to better resilience, meaning an individual is less likely to experience vulnerability.
The firm has a vulnerability policy in place which sets out how the firm will identify, support and treat vulnerable clients. This means that whatever vulnerable circumstances a person may be in, the firm will adapt to ensure the best service is received.
The judges were impressed with Harold Stephens' commitment to helping vulnerable clients. They commented: "They have clearly taken a very systematic approach to vulnerability and worked on breaking down vulnerability into key areas and reviewing how they can support each. They have a strong network of supporting agencies and pathways, rooted in the local community, so seem to have gone over and above standard practices."
Of the Vulnerable Customer Champion, Amy Wood, the judges said: "This applicant has introduced internal change (information cascading to team, as well as resource provision to clients and advisers alike), as well as a 'Later Life Network' in Bristol. The emphasis on helping clients and non-clients was a positive feature of the entry... the work they have been doing is clearly positive and of help."
Richard Higgs, Director of Harold Stephens, said: "We are delighted to have won two of the Just Group Vulnerable Customer Awards. As a small IFA firm in Westbury on Trym, we are leading the way in showing how it is possible to go above and beyond for clients to ensure they receive the best possible service. I’m so proud of our team!”
Amy Wood, Community Engagement Manager, said: “I would like to say a huge thank you to our contacts within the local community for enabling us to more easily signpost our clients to the support they need and for working with us to help improve what’s on offer to the later life community in Bristol.”
The Just Group Vulnerable Customer Awards are run by Just Group, a leading provider of retirement products and services. The awards are designed to recognise and celebrate the work of financial advice firms and individuals who are going above and beyond to help people in vulnerable circumstances.