Vulnerability is real
02 February 2026The wintry month that is January is complete and for many, the memories of seasonal festivities, family and fun are now gone. These happy memories are not the case for all, and for some people particular events and times of the year can create additional angst, frustration and loneliness. The causes of each situation and emotion are as individual as the person themselves. Vulnerability is real and relevant.
To reference this further, the Office of National Statistics (ONS) notes that there were 28.6 million households in the UK in 2024, 29.5% of which contained a single person. More people lived alone in 2024 (8.4 million) than in 2014 (7.6 million), and a higher proportion of them were aged 65 years or over (51.1% in 2024, 45.5% in 2014).
For more information and statistics, visit the ONS website:
The increase in older people living alone is partly due to the large number of children born in the 1960s reaching older ages, although may also be associated with a change in relationship patterns – more people aged 65 and over are now divorced or single than was the case 20 plus years ago.
Time may not be the great healer that was once suggested, and age can also be a thief in the night in making a once able and capable individual vulnerable. We have worked with hundreds of individual clients for over two decades, and it can be challenging to spot the signs that the person you welcomed all those years ago has moved to a different point in their lives where their vulnerability is apparent.
As independent financial planners, we would as a matter of course anticipate that a client would make a Will, and over the age of 60, we would normally recommend that they establish Power of Attorney arrangements (there are two types) in good time and just in case. Going further, we would also like to know where these are held and in addition, whether a client has family/friends they trust who know where these documents are held and (with their permission), their details, which we hold on file, noting that if anything goes wrong, it is likely to be them that will make contact. We also ask the client to pass on our details to this contact for their records or leave our details with the Will and Power of Attorney documents.
These points may seem to some obvious, but as we all age, particularly noting the statistics above for those living alone, the reality and experience of having to help in the event of death or loss of capacity comes to the fore. Taking steps to ensure correct service to a client who is vulnerable is vital and we have a vulnerability process within our systems to ensure that clients are cared for correctly.
None of us knows how our health will evolve in the future. We can take steps to be fitter, healthier and take good medical advice. However, life always was in a way a lottery when it comes to health, wellbeing and capacity. Whatever you do, make sure you are ready for your future.
No individual advice is provided during the course of this blog.
Chapters Financial is not responsible for the content of external websites.
Keith Churchouse FPFS
Director
CFP Chartered FCSI
Chartered Financial Planner
Chapters Financial Limited is authorised and regulated by the Financial Conduct Authority, number 402899.
