Big 'variability' in advice firms' Consumer Duty-driven fee changes

Consumer Duty has driven a chunk of advisers to make changes to their fee model, but the variability of approaches has surprised researchers. More than a third (38%) of advice respondents to The Lang Cat's State of the Advice Nation (SOTAN) study said they had made fee model changes, with a further 21% saying changes were under consideration. "There's elements of [the findings] that have taken us by surprise," said Lang Cat insight director Steven Nelson. "It wasn't a data point that we were entirely not expecting, but when you look at the verbatims of what firms are actually doing, w...