The crucial role of vulnerable client strategy in Consumer Duty

July 31 was an important milestone. As well as Consumer Duty expanding to include closed products, it is also the deadline for regulated entities, including financial advisory firms, to submit their Consumer Duty annual reports setting out the results of Consumer Duty monitoring and compliance. The aim of the report is to ensure transparency and accountability through monitoring efforts to deliver best outcomes for clients, and to articulate any necessary actions from the monitored findings.  After reviewing these reports, the Financial Conduct Authority (FCA) will provide an update o...