Advisers face Consumer Duty customer support challenge as rules bed in

Six months on from implementation advisers reveal concerns

Jenna Brown
clock • 3 min read

Providing Consumer Duty-compliant customer support is the biggest challenge advisers are contenting with six months on from implementation of the rules, according to research.

Some 44% of advisers told Abrdn that providing services in a way that meet clients' needs had been their biggest challenge in the past six months. The Financial Conduct Authority's (FCA) Consumer Duty came into force on 31 July last year. The provider said that of the Duty's four outcomes, consumer support was cited by 44% of advisers and ranked ahead of consumer understanding (39%) and products and services (37%). The fourth outcome - price and value - was causing consternation for the least (33%) amount of advisers surveyed. However, it was the area with the largest variation in res...

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