Advisers continue to struggle under "the weight of regulatory demands", according to research from Unbiased Pro, with Consumer Duty cited as the biggest challenge for planners.
Research from the business found 33% of advisers said Consumer Duty was their biggest regulatory challenge, followed by Financial Conduct Authority (FCA) reporting and compliance for 20%. Know your customer and anti-money laundering regulations were also a burden for 13% of those polled, with a further 13% finding fees and transparency rules the most tiresome. It surveyed more than 100 financial advisers in July this year for the research. Unbiased said many advisers said regulatory requirements took them away from client-facing work, with one claiming to spend "95% of their time on p...
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