Consumer Duty: A tick box exercise or a golden opportunity?

‘This new regulation is not something we can ignore or wish away’

clock • 5 min read

If we cast our minds back to more than a decade ago, many of us were feeling the same sort of dread about the implementation of the Retail Distribution Review (RDR) as some are now about the Consumer Duty, Mark Pittaccio writes…

If you were given a decision today about whether you would like today's valuation for your advice firm or the valuation pre-RDR, I think you would be hard pressed to find anyone who would want the latter. With the Consumer Duty implementation arrival date, advice firms are faced with a defining moment. This new regulation is not something we can ignore or wish away. It is an imperative measure for protecting consumers' interests and, subsequently, preserving our profession's integrity. Businesses must now grapple with a critical question: is Consumer Duty merely a tick box exercise, o...

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