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Issues surrounding the availability and accuracy of Excess Reportable Income (ERI) data can result in investors being fined by up to 200% of the tax due, as well as interest and potential late payment penalties.
Laura Miller explores the growing MPS sector and delves into how Consumer Duty has affected the competitive marketplace...
Among the barrage of adviser-focused research hurled at Professional Adviser’s news desk this week, Royal London and The Lang Cat’s study into the real-world impact of Consumer Duty stood out.
More than a third (37%) of advice firms have changed their fee structure after completing the Consumer Duty fair value exercise, Royal London and The Lang Cat have found.
Over a third of adviser firms (37%) have changed their fee structure as a result of completing the Consumer Duty fair value exercise, new research has revealed. The research, conducted by Royal London and the Lang Cat, found only 3% of respondents had not yet made the required changes. Overall, 21% of the 160 people