We have reached the third Consumer Duty milestone and have completed our reviews to meet the new outcomes.

We have taken this opportunity to make amendments to some processes, reviewed potential and foreseeable harms across the business, and undertaken price and value assessments across the service range. All of our assessments can be accessed via our new Consumer Duty hub and are a key step in enabling you to work out all aspects of the value chain, which we anticipate will provide comfort and support your own price and value assessments. 
 

We have set up this hub as a resource to support advisers on this Consumer Duty journey. We hope it will help you better understand our role in the new framework, and to assist you with incorporating those elements into your own processes for the benefit of your business and your clients. 

We endeavour to monitor and develop our review of all requirements under the Consumer Duty regime and look to implement further enhancements as required. This is not a “one and done” exercise, we will continue to seek ways to improve the consumer experience and add to the resources available in the Consumer Duty hub, so please keep checking back for new information. 

Co-operation and information sharing between firms across the distribution chain is a key area of focus for the FCA and a fundamental element in achieving the objectives of the Consumer Duty. We look forward to working together on this journey and sharing any relevant information to ensure we are working toward a shared goal of acting to deliver good consumer outcomes.

If you would like to speak with us about our approach to the Consumer Duty, or our discretionary investment management services in general, please get in touch with our UK Business Development Manager today.