Vulnerable Customers

LEGIER Beteiligungs mbH (hereinafter referred to as LEGIER) and its affiliated brands ScandicEstate, ScandicPay, ScandicTrust, and ScandicTrade place great importance on the safety and well-being of their customers. Our goal is to ensure that all customers, particularly those considered vulnerable due to personal circumstances, are adequately supported and protected.

What is a Vulnerable Customer?

A vulnerable customer is a person whose decision-making and engagement in financial services may be negatively affected by personal circumstances. These circumstances may lead to more severe adverse consequences for vulnerable customers compared to others who are not vulnerable.

What Factors Can Contribute to a Customer's Vulnerability?

  • Health: Physical or mental disabilities or illnesses that limit the ability to manage daily tasks.
  • Life Events: Significant events such as the loss of a loved one, job loss, or the breakdown of a relationship.
  • Resilience: Low ability to cope with financial or emotional shocks.
  • Capability: Lack of knowledge in financial matters, low confidence in handling money, or limited skills such as literacy or digital competence.

How Can Vulnerability Affect Customers?

  • Technological Limitations: Older customers may face difficulties using our investment platforms due to a lack of technical skills.
  • Mental Capacity: Limited mental capacities can lead to poor decision-making, particularly with high-risk financial products.
  • Emotional Decisions: Certain events or characteristics may lead to impulsive or emotionally driven investment decisions, such as:
    • A sudden diagnosis of a serious illness in the customer or a family member.
    • Financial distress.
    • Addiction-related health issues (e.g., gambling addiction or compulsive behavior).
    • Mental health conditions such as depression, anxiety, or suicidal thoughts.

How Does LEGIER and Its Affiliated Brands Support Vulnerable Customers?

If you believe you are affected by vulnerability characteristics, we kindly ask you to inform us as soon as possible. Since many of these characteristics are not immediately recognizable, we rely on your openness. Please contact us by opening a ticket through our customer service. To avoid delays, we ask you not to create multiple tickets for the same issue. Our team will process your request promptly.

Steps We Take in Response to a Customer’s Vulnerability

LEGIER has clearly defined policies and procedures for dealing with vulnerable customers. As each situation is unique, we adopt an individualized approach tailored to the specific circumstances. Our general principles include:

  • Individual Consideration: We adapt our communication and support to the needs of vulnerable customers.
  • Vulnerability as a Condition: We recognize that vulnerability may be temporary and does not affect all customers equally.
  • Priority of Well-Being: The well-being of all vulnerable individuals is paramount. We treat each customer individually and according to their needs.
  • Monitoring and Support: We assess how vulnerability affects the use of our services and offer support where necessary.

If we cannot ensure that a vulnerable customer is treated fairly, we reserve the right not to enter into a business relationship. Information about vulnerability disclosed later may also lead to exclusion from an existing relationship, particularly if it was not immediately apparent. Some vulnerability characteristics (e.g., age) are more obvious than others, and we are not obliged to proactively seek out less visible vulnerabilities.

Where Can You Seek Additional Help?

Vulnerable customers can contact the following for support:

  • Samaritans: Support for individuals with suicidal thoughts, depression, or anxiety.
  • MoneyHelper: Financial advice at moneyhelper.org.uk.
  • Citizens Advice: General advice at citizensadvice.de.
  • National Debt Helpline: Debt assistance at nationaldebt.de.
  • StepChange: Financial problem support at stepchange.org.
  • Mental Health Foundation: Resources at mentalhealthfoundation.de.
  • MIND: Mental health support at mind.org.uk.
  • Alzheimer’s Society: Dementia support at alzheimer.de.
  • Royal National Institute of Blind People (RNIB): Support for visual impairment at rnib.org.uk.
  • Action on Hearing Loss (RNID): Support for hearing loss at rnid.org.uk.

We at LEGIER are committed to standing by our customers in every situation and providing the best possible support, because you, our customer, are important to us, and together we are strong.