A look at what Consumer Duty means for vulnerable customers

The first big milestone for Consumer Duty of 31 July has passed, and we are now all living in a Consumer Duty world. The Financial Conduct Authority's (FCA) seismic legislation has created an understandable amount of discussion and debate as providers and adviser firms try to interpret, implement, evidence and govern the new rules. The core principle behind Consumer Duty is to secure better outcomes for customers - in simple terms, to not just prevent customer harm but to proactively offer them a good opportunity to financially succeed. As part of Consumer Duty and under FCA Guidan...