Consumer Duty Special

All about the Consumer Duty

In July 2022, the FCA confirmed plans to introduce a new Consumer Duty, intended to improve standards of consumer protection across financial services.

The new rules should result in customers receiving better-quality communications, products and services that meet their needs, fair value, customer service support when they need it.

The Duty will apply to all firms in the distribution chain (manufacturers and distributors) for products and services sold to customers (retail clients).

By end-October 2022 all boards need to have agreed implementation plans and oversight of delivery.

We hope the below information will help.

A guide to the new Consumer Duty

The implementation deadlines relating to the Consumer Duty are extremely challenging given the ramifications of this regulatory directive. Fidelity Adviser Solutions have created a summary of the rules.

Download your guide

We're here to help

On Pru's Consumer Duty support page you’ll find articles, links to supporting client facing material and much more.

Consumer Duty Support

With the Consumer Duty Implementation plan deadline date looming, we have created a few useful documents and tools you may find helpful. This includes: a video, guide, checklist and areas of development questionnaire.

Find out more

Consumer Duty- What do advisers think?

As we count down to what's been described as a 'fundamental shift' in the FCA's approach to regulation, we wanted to understand how advisers are feeling about it all. Through our latest research, we spoke to 200 advisers to get their views. Find out what advisers think about the new Duty - and what changes they plan to make to their business.

Read our research

Delivering good outcomes together

The new Consumer Duty, implemented well and proportionately, should be a positive change for our industry and its customers and we're here to support you on the journey. Here you'll find a range of resources to help you understand the new rules, what they mean for you and your business and next steps.

The new Consumer Duty: key changes you need to make now

In this 45-minute webinar, Fidelity’s Paul Richards is joined by Chris Davies of award-winning RegTech provider Model Office and Alex Whitson of VouchedFor, the UK’s largest review platform for financial advisers.

Practical Protection Podcast: Consumer Duty

Alain Desmier from Contact State takes us through his time working in lead generation and his new focus of improving industry standards when it comes to consumer data and consent.

A New Consumer Duty: A New Paradigm

Square Mile have created a guide to the new Consumer Duty, highlighting some of the key areas of focus for adviser businesses and providing a range of tips and suggestions to ensure readiness for August 2023.

Adviser Edge: On the Road

Join us at one of 15 locations nationwide in September and November for an interactive and in-depth seminar, accredited for 2.5 hours of structured CPD. The topics covered will be 'Using trusts for estate and inheritance tax planning' and 'FCA Consumer Duty – what is that all about?’

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