Technology helping firms avoid disparate client outcomes

Tech allows firms to demonstrate they are complying with Consumer Duty

Sahar Nazir
clock • 1 min read

The most successful wealth managers are “avoiding disparate client outcomes” by extensively using technology to streamline their investment offering, according to investment consultant Redington.

Business consultant Dorian Hughes said some the most successful firms are building scalable and repeatable processes by utilising technology. Web applications that centralise data, research, governance, oversight, and consumer outcomes are allowing firms to "quickly demonstrate" that they are complying with the Consumer Duty, according to Hughes. "The Financial Conduct Authority's own guidance states that firms should continue to make improvements in line with good practice," he said. "As an evolution not a revolution, the Consumer Duty is not a once and done exercise, so we can ex...

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

Adviser soft skills are 'crucial' and have 'never mattered more'

Adviser soft skills are 'crucial' and have 'never mattered more'

‘Soft skills have always been important but are now crucial’

Isabel Baxter
clock 17 June 2024 • 1 min read
'Our industry could benefit from better representation'

'Our industry could benefit from better representation'

‘There's a revolution underway, but there's more work to do'

Isabel Baxter
clock 17 June 2024 • 2 min read
PA Asks: Which party manifesto proposals for FS do you favour?

PA Asks: Which party manifesto proposals for FS do you favour?

This week’s poll also looks at the lifetime allowance and NI cuts

Professional Adviser
clock 17 June 2024 • 1 min read