Consumer Duty to force wealth firms to rethink business models
While white paper says the regulation will bring adviser-platform relationship closer
Consumer Duty
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Advisers ‘can’t afford to delay preparations’ for Consumer Duty
They are in ‘real danger’ of letting the FCA’s deadline pass them by
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Just 22% of firms have plans in place to comply with Consumer Duty
Nearly half admit they will turn to tech to help them with the regulation
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Some advice firms still clueless about Consumer Duty
Yet they have less than a year to comply with the FCA’s rules
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FCA Consumer Duty ‘will sort the wheat from the chaff’
Regulator gives firms 12 months to implement rules aimed at improving client outcomes
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FCA mulls Consumer Duty grace period
Legislation still set to come into force from April 2023