Consumer Duty rules define 5.6 million as 'vulnerable investors'

Health and life events

More than a third (34%) of the UK’s 16.2 million investors are classified as vulnerable according to the Financial Conduct Authority’s definition under its Consumer Duty, according to a report from Boring Money.

It said the 5.6 million vulnerable investors fell into the classification because of factors such as health, life events, financial resilience and or capability, including knowledge or confidence. Boring Money said when focusing on confidence alone, a "significant" 27% of all investors said that their confidence about investing is rated two or lower out of ten. It also said when asked about physical, emotional and financial vulnerability, a fifth of investors self-classified as vulnerable. It said these vulnerable customers are more likely to be young, female and less well-off. The...