Data analysis by financial planning software firm Dynamic Planner has unveiled the scope to which advisers have looked to technology to tackle Consumer Duty requirements.
The business analysed data from the 40% of the UK advice market it serves, finding that the number of reports created grew 100% year-on-year in June to more than 100,000 a month. It also found that advisers have increasingly used its target markets feature. Around one in four firms have created target markets on its platform, with an average of 130 being generated each month. Year on year, Dynamic Planner reported a 44% increase in the number of firms using target markets for recommendations. Numbers peaked in July 2023, in the run up to Consumer Duty regulation coming into force, as ...
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