Will sticking with the same CIP approach work under Consumer Duty?

In our world of finance, administrative inefficiencies and regulatory burdens have become major hurdles to providing exceptional service. Consumer Duty has made the regulatory landscape even tougher, adding more compliance layers that, while aimed at protecting clients, means extra work for advisers. Recent research by The Lang Cat into the advice gap revealed that 55% of advisers have had to stop or reduce serving clients due to the increased regulatory demands of Consumer Duty. It's no wonder many turn to outsourcing as a way to ease the burden. Centralised investment propositions (...