Consumer Duty business impacts expected by advisers

More advisers believe Consumer Duty will have a ‘high impact' on their firm

Sahar Nazir
clock • 1 min read

The proportion of advisers who think that the Consumer Duty regulation will have a "high impact on their business has risen from 25% to 41%, according to the Schroders UK Financial Adviser Pulse Survey 2023.

The number of advisers identifying a low impact on their business because of Consumer Duty has reduced from 39% to 17%. "The Consumer Duty came into effect in July 2023, and it is interesting to see that the proportion of advisers who think that the Duty will have a high or reasonably high impact on their business has since risen from 25% to 41%, with a commensurate fall in the proportion who think the impact will be relatively low," Schroders said. "This suggests that there is a growing recognition among advisers that the Consumer Duty has real teeth and will require ongoing effort t...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Your profession

The banks are back: What does this mean for advisers?

The banks are back: What does this mean for advisers?

Banks ‘uniquely positioned’ to provide advice to mass market

Sophia Panayi
clock 24 August 2026 • 6 min read
Social media investment advice leaves investors out of pocket - research

Social media investment advice leaves investors out of pocket - research

Over half who acted on social media financial advice regretted it

Isabel Baxter
clock 21 August 2026 • 3 min read
New sexual harassment duty: Can adviser firms show they've taken 'all reasonable steps'?

New sexual harassment duty: Can adviser firms show they've taken 'all reasonable steps'?

'Employers will be expected to take all reasonable steps'

Emily Bradshaw
clock 19 August 2026 • 4 min read