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...
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