Write or refer: What does this mean for Consumer Duty?

The dreaded ‘Consumer Duty' words echo around the halls of all financial service businesses. It's all hotting up as we rapidly approach the deadline of 31 July. According to a survey by the Financial Conduct Authority (FCA), around 26 million UK adults are potentially vulnerable, with a higher risk of experiencing harm from financial products and services. Consumer Duty is aimed at addressing this issue and ensuring that vulnerable customers are given appropriate protection. Something that is very close to our heart is the importance of either writing or referring clients to ensure...