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...

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