The regulatory landscape, including the Financial Conduct Authority’s (FCA) advice guidance boundary review and Consumer Duty regulations, will continue to play a crucial role in shaping the future of financial advice, according to Ruth Handcock.
Octopus Money CEO Handcock said these regulations are in consumers' best interests despite being "really tough". "Consumer Duty raises the bar and encourages you to focus on outcomes, not inputs. Can you really argue that that's the wrong thing to do?" Handcock said. "The challenge is how we as an industry respond to that, and the more we can respond in seeing it as an opportunity to do better for customers rather than as a regulatory burden, the better the industry will be." "The FCA is absolutely thinking about the right themes. If we look back on it over a five-to-ten-year period, ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
