Advisers fear profit dip from £20,000 Consumer Duty compliance costs

Financial advisers expect rise in costs and a decline in profitability

Sahar Nazir
clock • 2 min read

Nearly half (44%) of financial advisers expect their profitability to drop due to compliance with the Consumer Duty rules.

As the new regulation takes effect today (31 July), research from Quilter and Boring Money has found that advisers are spending nearly £20,000 on ensuring that their business complies. When asked how much, advisers said they expect complying with Consumer Duty will cost their business around £18,161. Meanwhile, just 5% of advisers believe their profitability will increase, and just under half (46%) said that they expect it to stay the same. Nearly a quarter (24%) of advisers expect their turnover to decrease, with two-thirds (63%) saying it will stay the same. Just 8% expect turnov...

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

Women's Wealth Alliance launches careers guide to attract more women to personal finance profession

Women's Wealth Alliance launches careers guide to attract more women to personal finance profession

Aimed at women at different stages of life and careers

Professional Adviser
clock 16 July 2026 • 3 min read
Women in Financial Advice Awards 2026: Shortlists revealed!

Women in Financial Advice Awards 2026: Shortlists revealed!

All the winners will be announced at a celebratory gala dinner on 4 November

Professional Adviser
clock 15 July 2026 • 10 min read
The human question: How PE-backed firms can retain their talent

The human question: How PE-backed firms can retain their talent

'In a people business, cultural integration is key to preserving client trust, adviser continuity and value'

Andrew Houghton
clock 15 July 2026 • 4 min read