Why Consumer Duty points to the emotional value of advice

'The emotional value of advice may be imperative and transformational'

clock • 5 min read

Louis Williams returns to PA to share his insights on the emotional value of financial advice in the context of the FCA's Consumer Duty...

I'm sure the 12-month extension for implementing the new Consumer Duty has been welcomed by many. However, as the planning fallacy suggests, firms should not put plans on pause. It's well known that despite repeatedly experiencing how a task takes longer than expected to complete, we still fall into the trap of underestimating the amount of time it really takes to implement change. Regardless, monitoring and developing processes to ensure clients are put first, the underlying message of the Consumer Duty, should always be of high priority, and the FCA state that firms providing produc...

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