Vince Smith-Hughes outlines practical steps small advisory businesses can take as they get to grips with Consumer Duty requirements...
A high proportion of articles and presentations in our sector at the moment seem to be focused on Consumer Duty and what is needed to meet its requirements. This is hardly surprising when the initial plans need to already be in place, and most of the rules need to be embedded by the end of July next year. But one question I am asked frequently by smaller advice firms is "how does all this apply to me"? On face value, you can see the dilemma. Trying to distil 161 pages of policy statement and 121 pages of finalised guidance into an action plan could be tricky for a firm with a dedicated, ...
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