60% of financially vulnerable people in the UK are women. Here’s how a financial expert can help your female clients

As a solicitor, you may routinely work with people who are experiencing significant life events and struggling financially.

Moreover, in recent years, you might have noticed that more of your clients are feeling financial pressure due to the ongoing cost of living crisis and economic uncertainty.

Yet, certain individuals may be more likely to struggle in the face of these financial challenges than others. Recent research by the not-for-profit organisation, fair4allfinance (6 March 2025), has revealed that 60% of people in financially vulnerable circumstances in the UK are women.

This could mean that some of your female clients may benefit from extra support to help them regain control of their wealth and their wellbeing.

Keep reading to learn what financial vulnerability means for women and find out how working with a financial expert could help.

3 key signs of financial vulnerability in women

A financially vulnerable person has an increased risk of experiencing financial harm or difficulty. They might also be less able to cope with unexpected economic shocks, such as losing a job or becoming too ill to work.

Your female clients may be more susceptible to financial vulnerability due to factors such as the gender pay and pension gaps.

For example, the study by fair4allfinance (6 March 2025) found that almost 1 in 3 financially vulnerable women said they relied on savings as income to cover essential costs over the past two years.

Some of your female clients may also have certain characteristics that make them generally more vulnerable, which could increase their risk of experiencing financial difficulties.

The Financial Conduct Authority (FCA; 7 March 2025) has released guidance to help professionals understand the needs of vulnerable clients and make sure they are treated fairly.

While this information is aimed at financial advisers and planners, it could also help you, as a solicitor, identify potentially vulnerable clients.

The FCA outlines four broad categories of vulnerability:

• Health issues – Including physical disabilities, illness, mental health conditions, and cognitive impairment
• Life events – Such as bereavement, job loss, financial abuse, or divorce
• Low resilience – Vulnerable clients may be less able to cope with financial or emotional shocks
• Poor literacy – This could include limited financial knowledge or confidence, poor literacy skills, or learning difficulties.

Knowing how to spot the signs of financial vulnerability may help you tailor your advice in line with individual needs and signpost additional sources of support, such as financial advice.

How a financial expert can help you support financially vulnerable female clients

There are several ways a financial expert can help your financially vulnerable female clients.

Creating a safe, non-judgmental space

Providing an environment where vulnerable clients feel comfortable is essential for effective financial planning.

Individuals need to feel that they can talk openly and honestly about their finances, including sensitive topics such as debt and financial abuse.

A financial expert can then act as an objective sounding board, supporting clients to make informed decisions without fear of judgment or criticism.

Performing due diligence on financial products

Vulnerable clients may feel overwhelmed by financial jargon and the choice of products available.

A financial expert can help them understand their options and the implications of their choices. They can also thoroughly research financial products and services to ensure they are legitimate and suitable for your clients’ needs.

This may be especially important for individuals with low financial literacy and confidence.

Registering a Lasting Power of Attorney

Setting up a Lasting Power of Attorney (LPA) could give your financially vulnerable clients the peace of mind that there are trusted individuals who can make financial or health-related decisions on their behalf, should they lose the capacity to do so themselves.

While a financial expert cannot set up an LPA, they may provide valuable support to your clients by:

• Explaining the different types of LPA
• Referring them to a solicitor for assistance
• Embedding the LPA in their broader financial plan
• Helping them consider who to appoint as their attorneys.

Providing education and guidance that empowers

Research published by PA Future (7 March 2025) has revealed that, on average, women have lower levels of financial education, confidence, and literacy than men. For example, 64% of women say they have little or no knowledge of investments compared to 43% of men.

As a financial expert, I can act as an educator and coach for your vulnerable female clients.

By explaining complex financial concepts in accessible language, I can boost your clients’ confidence and empower them to take control of their wealth.

Moreover, with ongoing support and reviews, your vulnerable female clients may feel better able to cope with unexpected life events and financial shocks.

Get in touch

I specialise in supporting women to take control of their financial wellbeing.

If you have vulnerable female clients who might benefit from financial advice, I can help.

Please contact me at lottie@truefinancialdesign.co.uk or call 03300889138.

Please note

This article is for general information only and does not constitute advice. The information is aimed at retail clients only.

All information is correct at the time of writing and is subject to change in the future.

The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance. 

Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.