Consumer Duty compliance: Take small steps to climb the ladder

Keep calm and do your (Consumer) Duty?

clock • 4 min read

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...

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

Critical shift: The latest Consumer Duty price and value update

Critical shift: The latest Consumer Duty price and value update

'Emphasis on continuous improvement and evidence-based practices'

Cat McInally
clock 24 October 2024 • 4 min read
Making it work: Why the FCA 'bet the house' on Consumer Duty

Making it work: Why the FCA 'bet the house' on Consumer Duty

'There's a long way to go, but that troublesome first hurdle has been cleared'

Harriet Christie
clock 10 October 2024 • 6 min read
PA360 North: Advisers and FCA 'misaligned' on Consumer Duty

PA360 North: Advisers and FCA 'misaligned' on Consumer Duty

Gillian Hepburn: ‘Are we really putting ourselves in our clients’ shoes?’

Isabel Baxter
clock 01 October 2024 • 2 min read