Advisers say Consumer Duty does not need to be explained to clients

‘Clients do not care about regulation in my experience’

Isabel Baxter
clock • 2 min read

Several respondents have said that Consumer Duty does not need to be explained to clients as they “do not care about regulation,” a Professional Adviser poll has revealed.

In last week's PA Asks, we asked the industry if they have explained what Consumer Duty is to their clients, to which 51% responded yes and 49% said no. A few respondents said they explain Consumer Duty to some clients, but not all. One pundit said they have explained the regulation to a select few clients who have shown interest and a few who they complained to about their increased workload. One respondent added: "Most have said you do that for us anyway, which I guess is a good thing." Another pundit said they have explained it to some clients who question the "overload" of i...

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