Consumer Duty

'FNZ would not exist without FCA’s consumer focus'

All parties now have an obligation to consider the value of their proposition

‘Onerous and time-consuming’ admin a barrier to effective communication

Greater focus on value for money investments and scrutiny on fees

First Consumer Duty board report deadline is 31 July

Advice firms are ‘offboarding’ clients that they cannot service profitably

‘Understanding clients should be natural to any client-focused adviser’

Reasons for missing board report include insufficient evidence

One in twelve advisers fear that they will not meet 31 July deadline

‘It’s not necessarily about promoting sustainability’