Consumer Duty: How tech can help advisers meet responsibilities

How your firm should be employing tech in the lead up to 31 July

clock • 3 min read

Consumer-friendly technology will help advice firms to meet the new Consumer Duty rules on an ongoing basis, says Nick Hall

The overarching principle of the regulator's Consumer Duty rules due to be implemented in July, is that a firm must act to deliver "good outcomes" for retail customers. Wealth Wizards believes technology is going to be fundamental for advice firms to meet their obligations. Especially so for larger companies and firms growing their bank of clients. They need to feel confident that their processes are robust and consistent across the entire company. Consumer understanding and consumer support will be key. For advice firms to evidence that they are conforming to Consumer Duty principles...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Consumer Duty

Consumer Duty: The lessons we can learn from its first year

Consumer Duty: The lessons we can learn from its first year

Consumer Duty board report comes with specific challenges

Stuart O’Sullivan
clock 03 July 2024 • 3 min read
Investment volatility poses real Consumer Duty threat for advisers

Investment volatility poses real Consumer Duty threat for advisers

Three-part outsourcing series continues

Andy Miller
clock 26 June 2024 • 4 min read
Why advisory firms should continually assess their charges

Why advisory firms should continually assess their charges

The debate on charges is far from over and probably never will be

Karl Dines
clock 26 June 2024 • 4 min read