Clients rate advisers good with 'room for improvement'

NextWealth report looks at implications of Consumer Duty rules

Jenna Brown
clock • 2 min read

A survey of advised clients for NextWealth’s latest report – which focuses on the implications of Consumer Duty – gave advisers a satisfaction score of 7.8, dropping to seven out of ten for fees, showing that there is “room for improvement”.

The report, ‘Consumer Duty: Implications for the retail wealth management supply chain' explores the consequences of the introduction of Consumer Duty by the Financial Conduct Authority (FCA) which introduces a new principle to financial services regulation. NextWealth managing director Heather Hopkins (pictured) explained the firm surveyed 302 people who pay for ongoing advice and conducted ten in-depth interviews. She said: "The overall message for advisers was positive. Consumers describe the value of advice as peace of mind, trust and contribution to their wellbeing. But there are...

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