Supporting a client after bereavement is perhaps one of the most sensitive and challenging parts of financial planning.
They may be trying to balance their family’s wellbeing with their own needs in a time of grief – all while dealing with the deceased person’s estate, either as an executor, beneficiary, or both.
As an adviser, you may already understand just how important it is to handle these conversations with care.
However, the Financial Conduct Authority (FCA) recently revealed that many bereaved customers aren’t always receiving the support they need from financial firms. So, in May 2026, it announced that it’s reviewing how consumer investment firms support bereaved individuals.
Here’s what the review will look at, along with three essential takeaways for financial advisers.
The FCA is reviewing the full bereavement support process
The FCA’s review is partly a result of research showing that only 47% of bereaved customers felt they received the support they needed from financial firms.
As such, the regulator will look at the experience customers have from the moment a firm is told about a bereavement, right through to the transfer of assets.
It will also review how firms communicate with and support vulnerable customers, and how fees are handled on bereaved accounts.
The FCA hopes this review will determine whether bereaved clients are guided through the entire process compassionately and clearly. It could also act as a helpful framework for financial advisers.
Read on for three essential takeaways from the review.
1. It should make the bereavement process much easier to navigate
The FCA is looking closely at the entire process, not just initial conversations.
Even if the first phone call has been handled well, some advisers may then send unclear letters or ask for the same documents more than once.
Some clients may even have to chase for updates from time to time, making the experience frustrating for them.
So, it may be prudent to walk through your process from a client’s point of view by considering:
- How easy it is to contact your firm about a loved one passing away
- The documents you request and whether you explain why
- How clearly you lay out a client’s options and next steps
- If your clients know who to contact with questions.
Even seemingly insignificant changes to the way you operate could make a substantial difference to your clients’ quality of life.
For instance, a brief written summary of your meeting could help a client understand what’s been agreed after an initial call and what happens next.
Alternatively, assigning them a single point of contact could reduce the risk of clients having to repeat difficult information to several people.
Of course, some paperwork will always be necessary, but making the process as straightforward as possible could help your clients deal with complicated financial matters at a time when they’re already struggling.
2. Treat bereavement as a vulnerability characteristic
The review will also focus on how firms support vulnerable customers.
Bereavement can create vulnerabilities for clients who are normally confident and experienced in managing their finances – and it’s not just about how much money they’ve got.
Grief could even affect their concentration, memory, or decision-making abilities, and a client who usually understands financial matters may need more time or reassurance. What’s more, if their deceased loved one usually handled the finances on their behalf, there could be gaps in their knowledge that lead to potentially detrimental consequences.
Because of this, it’s worth thinking about how you communicate with recently bereaved clients. It may help to:
- Use plain English and avoid jargon
- Slow the conversation down and check how much they understand of what you’re speaking about, without being patronising
- Ask whether they’d prefer phone, video, or face-to-face contact.
This is especially important if the client needs to make decisions quickly after a death.
Indeed, they may need to consider how to replace a loss of income or deal with inherited investments.
Just remember that a technical, but accurate, explanation might not always be enough, as the client also needs to feel supported and heard.
It might be wise to think about whether your team feels able to handle these conversations, too. Client-facing staff may need training on what to say and how to spot signs of vulnerability.
3. Check whether your service standards still stand up to scrutiny
The FCA also seems to be looking at service standards and how fees are handled on bereaved accounts.
For advisers, this might mean looking more closely at some of the practical details your clients may experience after they’ve reported a passing.
For instance, you might want to review:
- How long bereavement cases usually take
- How often the client receives updates
- Where delays may occur
- How you record vulnerable client needs.
Bereaved clients may find it harder to process complex information, so you may want to ensure your communications are easy to act on.
Moreover, if ongoing fees continue while an estate is being settled, you should ensure clients understand what they’re being charged for and why it applies.
This stronger process could give you and your team consistency while allowing them to adapt to each client’s needs.
Get in touch
We could help you improve the way your firm supports bereaved clients and reduce unnecessary stress.
Email hello@corbelpartners.co.uk or call 01925 637891 to find out more.
Please note
This article is for general information only and does not constitute advice. The information is aimed at individuals only.
All information is correct at the time of writing and is subject to change in the future.
The Financial Conduct Authority does not regulate estate planning.