Proving good customer outcomes still a challenge for financial planners

Firms face practical challenges in Consumer Duty board reporting

Sophia Panayi
clock • 2 min read

Financial planning firms continue to face practical challenges in Consumer Duty board reporting in proving good customer outcomes are being delivered.

The Chartered Insurance Institute's (CII) roundtable report, Consumer Duty Board reporting: two years on – from reporting to proving outcomes, was published following its  third annual discussion on Consumer Duty board reporting.  The findings showed both insurance and financial planning firms are increasingly producing "more confident and data-rich" reports, while looking for practical, proportionate support to help translate those reports into stronger evidence of customer outcomes.   Survey participants reported that challenges linked to unfamiliarity with regulatory expectations h...

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