Consumer Duty two years on: Challenges remain for advisers

‘Biggest challenge for advisers at the moment'

Sahar Nazir
clock • 4 min read

Two years after the implementation of the Financial Conduct Authority's (FCA) Consumer Duty, advice firms across the UK continue to navigate what it means for their business.

The Duty, introduced 31 July 2023, was billed as a regulatory principle aimed at embedding good customer outcomes for financial services. Advisers faced fee pressure and the challenge of fair value Regulatory requirements continued to dominate the list of adviser concerns, according to Benchmark commercial director Gillian Hepburn. Speaking to Professional Adviser, Hepburn said: "The biggest challenge for advisers at the moment is regulation and you can kind of put money on it that that always comes out as the number one challenge." Hepburn referred to the Schroders UK Financial ...

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