Assessing business relief opportunities in light of Consumer Duty

Advisers might need to consider different solutions

clock • 3 min read

With the implementation date for Consumer Duty fast approaching, Rebecca Hodges considers below how business relief-qualifying services may be impacted by the new regulatory framework...

What does the new Consumer Duty principle: "Must act to deliver good outcomes for retail customers" mean when applied to business relief (BR)? Traditionally, financial plans are considered through the lens of agreeing an objective at the outset. In the BR world, most customers approach the investment seeking a clear objective: mitigation of the impact of inheritance tax (IHT) on their investment upon death. If a client sets out this objective, failing to mitigate the effects of IHT on death would mean, at least in part, failing to achieve a good outcome. In addition to the primary ...

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

Is this subterfuge? The hidden appeal of Consumer Duty

Is this subterfuge? The hidden appeal of Consumer Duty

'Maybe this is what a black belt in bureaucracy looks like'

Andrew Goodwin
clock 16 April 2024 • 4 min read
Consumer Duty sparks Money Alive 'record usage' by advisers

Consumer Duty sparks Money Alive 'record usage' by advisers

Highest usage ever in February as Consumer Duty becomes new normal

Jenna Brown
clock 27 March 2024 • 1 min read
Assessing business relief opportunities in light of Consumer Duty

Assessing business relief opportunities in light of Consumer Duty

Advisers might need to consider different solutions

Rebecca Hodges
clock 14 March 2024 • 3 min read