Consumer Duty business impacts expected by advisers

More advisers believe Consumer Duty will have a ‘high impact' on their firm

Sahar Nazir
clock • 1 min read

The proportion of advisers who think that the Consumer Duty regulation will have a "high impact on their business has risen from 25% to 41%, according to the Schroders UK Financial Adviser Pulse Survey 2023.

The number of advisers identifying a low impact on their business because of Consumer Duty has reduced from 39% to 17%. "The Consumer Duty came into effect in July 2023, and it is interesting to see that the proportion of advisers who think that the Duty will have a high or reasonably high impact on their business has since risen from 25% to 41%, with a commensurate fall in the proportion who think the impact will be relatively low," Schroders said. "This suggests that there is a growing recognition among advisers that the Consumer Duty has real teeth and will require ongoing effort t...

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 Your profession

Advisers urged to prioritise mindset over products in retirement planning

Advisers urged to prioritise mindset over products in retirement planning

Defaqto conference panellists urge shift to service-led, goal-driven strategies

Sahar Nazir
clock 02 May 2025 • 1 min read
PA360: 'Clients crave certainty, not solutions' – advisers urged to listen harder

PA360: 'Clients crave certainty, not solutions' – advisers urged to listen harder

‘Are you really listening to your clients?’

Sahar Nazir
clock 02 May 2025 • 2 min read
PA Asks: Should the cash ISA limit be cut?

PA Asks: Should the cash ISA limit be cut?

Plus, which business leader inspires you, redundancy cover and NFTs

Professional Adviser
clock 02 May 2025 • 1 min read