Consumer Duty sparks Money Alive 'record usage' by advisers

Highest usage ever in February as Consumer Duty becomes new normal

Jenna Brown
clock • 1 min read

Money Alive has seen record usage in recent weeks with February marking a “record-breaking month” for the firm as advisers utilised content to prioritise client understanding in light of Consumer Duty rules.

The provider of video-based financial education for clients said usage of its Money Alive Office product had doubled during the month compared to the same period last year. It said more than 12,500 videos had been delivered to clients by financial advisers. It said the surge in volume reflected an "industry-wide shift towards prioritising client understanding" in alignment with the Financial Conduct Authority's Consumer Duty. Chief executive Andy Kirby said: "The FCA's Consumer Duty emphasised a need for clear and understandable communications for clients when it comes to their financ...

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 Consumer Duty

Is this subterfuge? The hidden appeal of Consumer Duty

Is this subterfuge? The hidden appeal of Consumer Duty

'Maybe this is what a black belt in bureaucracy looks like'

Andrew Goodwin
clock 16 April 2024 • 4 min read
Assessing business relief opportunities in light of Consumer Duty

Assessing business relief opportunities in light of Consumer Duty

Advisers might need to consider different solutions

Rebecca Hodges
clock 14 March 2024 • 3 min read
Will Consumer Duty spur shift to direct authorisation?

Will Consumer Duty spur shift to direct authorisation?

This is a step change but, what if you're not in control?

David Ryder
clock 13 March 2024 • 5 min read