Consumer Duty offers advisers 'a point of difference'

‘They have the opportunity to engage with clients on a flexible basis’

Isabel Baxter
clock • 3 min read

Following the Financial Conduct Authority’s (FCA) most recent speech on Consumer Duty, Davies Consulting Division consulting director Philip Michell shares his thoughts with Isabel Baxter ahead of the 2024 deadline…

In a recent speech, FCA executive director of consumers and competition Sheldon Mills reflected on the progress of the Consumer Duty regulation as it has now been just six months since it came into effect for advisers and says there are still areas where firms could do better. Meanwhile, Opinium reveals that close to a third (30%) of UK consumers who have heard of Consumer Duty feel they have received less clear financial advice in the last six months despite the regulation aiming to improve clarity for consumers since being implemented in July 2023. With this in mind, there is clearl...

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