Consumer Duty: One year on and the protection factor

Increased recruitment of protection experts at many firms

clock • 3 min read

Shelley Read, senior protection technical manager, Royal London, shares her insight for COVER's sister title, Professional Adviser, where she looks at Consumer Duty's first year through the protection lens.

So, how are advisers feeling as we approach the one year anniversary of the Consumer Duty? Most we speak to have welcomed its introduction. Of course, many were fulfilling the majority of requirements anyway, and often all that was needed was just a few tweaks and updates to be fully compliant. A significant change is wealth advisers having a greater focus on clients' protection needs, while providers have seen an increase in requests for training and support from this group of advisers. In our November 2023 Adviser Survey, advisers said protection business had increased by 10% in the...

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