Among the barrage of adviser-focused research hurled at Professional Adviser’s news desk this week, Royal London and The Lang Cat’s study into the real-world impact of Consumer Duty stood out.
It found more than a third - 37% to be precise - of the 1,300 advisers it spoke to had changed their fee structure after completing the Consumer Duty fair value exercise. The research found that 21% of those asked found the changes needed were difficult and a lot of work was needed to comply, with 3% still to make the required changes. It also revealed that overall Consumer Duty was viewed as a positive change. About two-thirds (67%) of respondents agreed the work needed to carry out the fair value assessments had been worthwhile. Commenting on the study, The Lang Cat consulting direc...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
