Andrew Storey mulls over the reality facing advice firms regarding Consumer Duty and looks to pour some balm on the choppy waters of this topic du jour...
If I was a financial planner, I might be beginning to feel somewhat overwhelmed and perhaps even irked by the flood of ‘advice' from various quarters regarding my pressing need to comply with Consumer Duty. But I get it because I've been following all the media talk and the messages from the regulator. I can imagine that for many advice firms, the loud call to put the client at the centre of everything, act in good faith throughout, don't knowingly cause harm, aim for good outcomes, and provide value for the service provided is like preaching to the converted. So I won't repeat any...
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