Consumer Duty: Advisers anticipate client dissatisfaction

Advisers expect to receive a negative reception for upcoming Consumer Duty rules

Sahar Nazir
clock • 1 min read

The majority (61%) of advisers say clients will not view the new Consumer Duty regulation in a positive light.

The research was conducted between late February and early April 2023 by business development firm Panacea Adviser among 136 advisers. With the Financial Conduct Authority's imminent Consumer Duty deadline on 31 July, the survey sought to gauge advisers' thoughts on the new regulation. When they were asked how their clients would respond to the rules, 8.3% of advisers said they think Consumer Duty will be viewed positively. Just under one third (30.6%) of advisers said they are unsure how clients will respond to the latest regulation. One adviser said: "Clients have no idea what...

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