Nurturing trust and loyalty: The fourth pillar of Consumer Duty

Need to foresee and mitigate potential harm is paramount

clock • 4 min read

The concept of ongoing consumer support, as outlined in the fourth Consumer Duty pillar, is a testament to the holistic approach that professionals in this field must adopt to ensure the financial well-being of their clients, writes Stephen Mitchell

Within financial services, a duty is bestowed upon those who guide the financial destinies of individuals and families. This duty is encapsulated in the fourth - and final - pillar of Consumer Duty. The concept of ongoing consumer support, as outlined in this pillar, is a testament to the holistic approach that professionals in this field must adopt to ensure the financial well-being of their clients. Continuous assessment of foreseeable harm The fourth pillar underscores the paramount need to foresee and mitigate potential harm that clients may encounter. In the world of finance, n...

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