Many may feel like the onus is on product providers and the service and value that they offer, but the regulator will be keeping a keen eye on the advice market too.
Given the changes that came about from the RDR, advisers are already doing much of what the consumer duty requires. The key thing will be ensuring that their advice and investment processes and all communications to distinctly targeted client segments are designed to produce good customer outcomes and be prepared to evidence this.
Ensuring that every part of the business is geared towards the customer outcome will not only ensure good compliance for an adviser, but it will also result in good outcomes for the practice with closer client relationships and more opportunities to signpost the value of financial advice.
carmen.reichman@ft.com
