Episode 12 | 02/03/2026 - Vulnerability by omission: The risk firms don't see coming What does it mean to know your client fully when risk is no longer just financial?

This episode connects global risk, client preferences, Consumer Duty and vulnerability - and explains why understanding how clients feel about risk is now central to good advice.  What happens when advisers don't ask about values?

With guests Richard Farr (Telos Solutions / Comentis) and Mike Head (Ethical Investors / Ethical Screening), we examine vulnerability, resilience and the emerging risk of "vulnerability by omission" - and why foreseeable harm isn't limited to financial loss.

Plus: Client Preference Ready, stewardship reform and CP26/5. A practical look at knowing your client fully.  

SHOW NOTES

Client Preference Ready badge - consumer page - https://www.inaccord.co.uk/clientpreference-

ready/

Client Preference Ready badge - adviser page https://www.accordinitiative.com/public/

page/Client+Preference+Ready+Badge/236

IA report: Realigning Stewardship: Delivering Sustainable Value Through Stewardship report - a roadmap to strengthen the UK’s stewardship ecosystem and support long‑term value creation -

https://media.licdn.com/dms/document/media/v2/D4E1FAQEdhaQRkDfvcA/feedsharedocument-

pdf-analyzed/B4EZwonM2bKgAc-/0/1770207892531?

e=1771459200&v=beta&t=dpCfH9wckAxdMURMpO8DZwOMaqR50EUvZN8gSifzcn4

CP26/5: Aligning listed issuers’ sustainability disclosures with international standards -

https://www.fca.org.uk/publications/consultation-papers/cp26-5-sustainability-disclosures

In ACCORD Vulnerability, protected characteristics & client values - practical guide & checklist - https://www.esgaccord.co.uk/wp-content/uploads/2026/01/Vulnerabilityprotected-

characteristics-client-values-practical-guide-checklist-.pdf

Comentis - https://www.comentis.co.uk/

Telos Solutions - https://www.telossolutions.co.uk/

Ethical Investors - https://ethicalinvestors.co.uk/

What does it mean to know your client fully when risk is no longer just financial?

This episode connects global risk, client preferences, Consumer Duty and vulnerability — and explains why understanding how clients feel about risk is now central to good advice.

Episode Transcript:

https://www.inaccord.co.uk/wp-content/uploads/2026/01/Episode-11-Transcript-Shownotes.pdf

SHOW NOTES

World Economic Forum - Global Risks Report 2026 https://www.weforum.org/publications/globalrisks-

report-2026/

Global biodiversity loss, ecosystem collapse and national security A national security assessment

https://www.gov.uk/government/publications/nature-security-assessment-on-global-biodiversityloss-

ecosystem-collapse-and-national-security

Consumer Duty https://www.fca.org.uk/publications/policy-statements/ps22-9-new-consumer-duty

COBS9 https://handbook.fca.org.uk/handbook/COBS/9?date=2023-06-22&view=chapter

Accord Initiative -free-to-access education, practical resources and compliance support for advisers, including accredited learning, structured guidance and tools designed to ensure client preferences are identified, evidenced and reflected consistently across advice processes. Resources are made freely available with the support of industry partners. www.accordinitiative.com

We start 2026 by going deeper than the headlines. From understanding climate related product reporting in practice to the role of lifelong learning in professional credibility. With guests James Dalby at Aviva Wealth and Rich Cooper at LIBF (part of Walbrook Institute).

Episode Transcript:

https://www.esgaccord.co.uk/wp-content/uploads/2026/01/Episode-10-Transcript-Shownotes.pdf

SHOW NOTES

Aviva Climate-related Disclosure Reports for your funds https://www.aviva.co.uk/help-and-support/managing-your-policy/investments/climate-related-disclosure-reports/

In Accord’s Accord Academy free to access LIBF accredited courses - https://www.accordinitiative.com/login

LIBF – Professional Education https://www.walbrook.ac.uk/libf/

LIBF Apprenticeships https://www.walbrook.ac.uk/libf/professional-qualifications/banking-andfinance-apprenticeships/

Tim Lenton - Positive Tipping Points https://global.oup.com/academic/product/positive-tippingpoints-9780198875789?cc=gb&lang=en&

Kim Stanley Robinson - The Ministry for the Future https://store.orbit-books.co.uk/products/theministry-

for-the-future

Adrienne Buller - Value of a Whale - https://manchesteruniversitypress.co.uk/9781526162632/

Alex Edmans - And ‘May Contain Lies https://www.penguin.co.uk/books/455479/may-contain-liesby-edmans-alex/9780241630181

Heather Brooke - The Silent State

https://www.penguin.co.uk/books/408519/the-silent-state-by-heather-brooke/9780099537625

In this episode, we look at the gulf between what clients say they want, what manufacturers deliver, and how advice firms are in between. The communication gaps exposed here can’t be ignored - join us as we unpack why 2026 must be the year we fix that. We are also joined by Oscar Warwick-Thompson of UK SIF to look at issues in the distribution chain.

Episode Transcript: https://www.esgaccord.co.uk/wp-content/uploads/2025/12/Episode-9-Transcript.pdf

Links and Resources:

 • Morgan Stanley Institute for Sustainable Investing’s 2025 “Sustainable Signals: Individual Investors” report. 

https://www.morganstanley.com/insights/articles/sustainable-investing-interest-2025

 • Net Zero Lawyers Alliance -Sustainable Fiduciary Duty: The report https://www.netzerolawyers.com/publications/sustainable-fiduciary-duties-for-investors

•  Man Institute A Sustainable Future Podcast with Jason Mitchell Head of Responsible Investment Research, Man Group https://www.man.com/insights/ri-podcast-maurits-dolmans

•  Professor Lord Nicholas Stern: The Growth Story of the 21st Century The Economics and Opportunity of Climate Action

 Download open access: https://press.lse.ac.uk/books/m/10.31389/lsepress.tgs

Webinar: Nicholas Stern’s book highlights (1hr,26mins) https://lselive.eckoenterprise.net/events/20251105/webcast?presentation=1&stream_id=28021

 •  UKSIF and PWC - UK SDR and investment labels: Implementation lessons and road ahead

https://uksif.org/wp-content/uploads/2025/10/2417-UKSIF-SDR-report-2-v4b.pdf

•  Sustainable Investing in Practice: Objectives, Constraints, and Limits to Impact (Edmans, Gosling, Jenter 2025) 

https://www.fmg.ac.uk/isf/publications/discussion-papers/sustainable-investing-practice-objectives-constraints-and-limits

In this Episode we talk about COP, ahead of COP 30. What is a COP, where did it come from and how does all of this relate to UK financial advisers and their clients?

Note - this Episode was recorded on 28/10/2025, ahead of COP30 and associated developments/information updates

Episode Transcript: https://www.esgaccord.co.uk/wp-content/uploads/2025/10/Episode-8-Transcript.pdf

Links and Resources:

Outrage & Optimism Podcast https://www.outrageandoptimism.org/episodes

Chatham House What is COP30 and why does it matter for the climate? https://www.chathamhouse.org/2025/09/what-cop30-and-why-does-it-matter-climate

United Nations COP30 to take place 6-21 November 2025 in Belém, Brazil. https://www.un.org/en/climatechange/cop30

United nations Department of Economic and Social Affairs - Sustainable Development. The 17 Goals: https://sdgs.un.org/goals

Global Tipping Points Report 2025: https://global-tipping-points.org/

Part 4: Values

Some would argue that values or ethical investing is where it all started. In this episode we will hear the FCA's view on where ethical and values-based investment fits under the SDR regime, and we will hear from a broad range of industry experts who are active in this area.

The full transcript of this episode is available here:https://www.esgaccord.co.uk/wp-content/uploads/2025/10/Episode-7-Transcript-Good-Money-Week-part-4-.pdf

Part 3: Delivering good outcomes - understanding objectives and preferences

In this Episode we have valuable insights from the FCA on sustainability and how existing regulations exist to support advisers.

We'll also hear from another wide range of industry experts on what 'good outcomes' look like when it comes to ESG, sustainable and values-based investment options.

The full transcript of this episode is available here:https://www.esgaccord.co.uk/wp-content/uploads/2025/10/Episode-6-Transcript-Good-Money-Week-part-3.pdf

Part 2: Due diligence and sustainability

In this Episode we hear from the FCA about important aspects of sustainability and due diligence requirements, plus our guests from across the industry describe their own processes for sustainability due diligence.

The full transcript of this episode is available here:

https://www.esgaccord.co.uk/wp-content/uploads/2025/10/Episode-5-Transcript-Good-Money-Week-part-2.pdf

 Part 1: Fact find and meeting

In this episode we hear from the FCA and other guests about the importance of discussing sustainability and values-based investment options with clients, and when and how to record the conversation as part of the Fact Find/Know Your Client process

The full transcript of this episode is available here:https://www.esgaccord.co.uk/wp-content/uploads/2025/10/Episode-4-Transcript-Good-Money-Week-part-1.pdf

In this episode we look at Where, When and How to raise sustainability/ethical/responsible investment options with clients. We also cover the issue of 'sludging' issues from Consumer Duty and how, inadvertently, many advice firms are creating barriers to clients achieving their investment preferences and objectives.

The full transcript of this episode is available here:

https://www.esgaccord.co.uk/wp-content/uploads/2025/08/Episode-3-Transcript.pdf