Financial advisers' crucial Consumer Duty second pillar role

Price and value: Helping clients navigate the financial maze

clock • 4 min read

Stephen Mitchell explores the second pillar of Consumer Duty, price and value, and says advisers have a "crucial" role to play...

In today's complex financial landscape, consumers rely heavily on financial advisers to navigate the intricate web of investment options, retirement planning, and wealth management. The responsibility of these advisers extends beyond mere recommendations; it encompasses a deeper commitment to consumer welfare, encapsulated in the second pillar of Consumer Duty: price and value. Price vs. value Consumer Duty goes beyond the simplistic approach of choosing the cheapest product or service. While cost-conscious decisions are important, an effective assessment of price and value requir...

To continue reading this article...

Join Professional Adviser

  • 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

Stephen Mitchell of FE Fundinfo

Nurturing trust and loyalty: The fourth pillar of Consumer Duty

Need to foresee and mitigate potential harm is paramount

Stephen Mitchell
clock 08 December 2023 • 4 min read
Could Consumer Duty push asset managers out of UK retail market?

Could Consumer Duty push asset managers out of UK retail market?

Compliance will weigh more on those with global businesses and offerings

Cristian Angeloni
clock 01 December 2023 • 10 min read
FE Fundinfo's Stephen Mitchell

Client communication: No room for one-size-fits-all under third pillar

Consumer Duty’s third pillar is a game-changer for client comms

Stephen Mitchell
clock 21 November 2023 • 4 min read