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How have financial firms adapted with Consumer Duty implementation?

The Consumer Duty regulation has already shown it will have a long-lasting impact

United-kingdom , Carl-woodward , Financial-conduct-authority , Consumer-duty , Retail-distribution-review , Operational-resilience ,

The Morning Briefing: FOS complaints; small firms beware

Good morning and welcome to your Morning Briefing for Thursday 4 April 2024. To get this in your inbox every morning click here. FOS increases case prediction The Financial Ombudsman Service (FOS) has revised the number of complaints it expects to see during 2024/25 from 181,300 to 210,000. It said this is due to

Japan , United-kingdom , Manchester , Britain , Steven-cameron , Marc-devereux , David-boyhan , Reuters , Financial-ombudsman-service , Bloomberg , Morning-briefing , Retail-distribution-review

Smaller firms beware: How to stay ahead of FCA expectations on ongoing services

When the UK’s largest wealth management firm puts aside over £400m in relation to historic ongoing services issues, it’s clear this is a subject that needs to be a priority.

United-kingdom , Kate-tuckley , Retail-distribution-review , Consumer-duty ,

Decumulation – the regulator's challenge | International Adviser

Potential solutions abound, including cash buckets, annuities, smoothed funds, guaranteed income products and risk assets

United-kingdom , David-ogden , United-kingdom-financial-conduct-authority , Financial-conduct-authority , Retirement-outcomes-review , Centralised-investment-proposition , Central-retirement-proposition , Retail-distribution-review , Consumer-duty ,

Andy Curran: FCA finally fixing the guidance gap

We anticipate greater provider responsibilities to come from the FCA consultation on the advice guidance boundary. We should embrace these to reduce the shocking numbers of those taking neither advice nor guidance at the time they most need it - when making decisions about their retirement.

Pensions-service , Financial-conduct-authority , Retail-distribution-review , Consumer-duty ,

Alan Lakey: How regulation has failed | Money Marketing

Readers — particularly those with a long memory — will hold their own opinion as to the success of regulation

Ireland , Jim-gower , Alan-lakey , Linda-blackwell , Dan-murrell , Financial-services , Financial-conduct-authority , Services-act , Investor-protection- , Money-management , Planned-savings , Retail-distribution-review

Spoiler alert: The solution to the advice gap doesn't always have to be advice

The boldness of the regulator and the Treasury should be commended. Publicly acknowledging the current rules can't solve the advice gap problem instils confidence that genuine progress is on the horizon.

Netflix , Retail-distribution-review , Consumer-duty ,

When is equity release a sensible option?

Many are emotionally attached to their homes because of the memories they have made and lives built. If they needed cash for retirement, they would probably be receptive to a way of staying while accessing its capital value to help fund their retirement. This can be achieved through equity release.

Paul-langley , Paul-glynn , Prajesh-patel , Equity-release-council , Sue-read , Equity-release , Retail-distribution-review , Safe-home-income-plans ,

5 things UK advisers should consider when partnering with global advice firm

5 things UK advisers should consider when partnering with global advice firm
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India , United-kingdom , China , Writtenby-stuart-ritchie , Managing-partner , Investing-reviews , United-kingdom-only , Retail-distribution-review ,

UK: Advice Guidance Boundary Review – recap on FCA proposals to close the advice gap | Hogan Lovells

On 8 December 2023, the Financial Conduct Authority (FCA) and HM Treasury (HMT) published a joint discussion paper to examine the regulatory boundary between financial advice and...

United-kingdom , Advice-guidance-boundary , Advice-guidance-boundary-review , Retail-distribution-review , Financial-advice-market-review , Regulated-activities-order , Consumer-duty ,