More than one third (39%) of financial advisers have not mentioned Consumer Duty to their clients, according to Royal London.
The provider's 2024 Meaning of Value report found a gap in client communication when it came to the Consumer Duty regulation which was introduced by the Financial Conduct Authority (FCA) in July 2023. This research was conducted by The Lang Cat via its adviser research panel and a total of 160 responses were received during September and October. The study found that 41% of advisers have mentioned Consumer Duty in some cases, where prompted, while 20% said they had issued customer updates on Consumer Duty. Royal London said advisers have found Consumer Duty to be a positive change....
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
