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We've pulled together the webinar's main points including the regulator's perspective, observations and findings, and practical insights for firms in this highlights document.
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Your chance to influence regulatory changeÂ
During the event, the FCA also referenced their recent Call for Input. The FCA is inviting views on whether, where and how they can refine their retail conduct rules, while ensuring they continue to support and protect consumers. They particularly want to address potential areas of complexity, duplication, confusion, or over-prescription, which create regulatory costs with limited or no consumer benefit.
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This is an important initiative and a great opportunity for all retail financial services firms to share their thoughts and experiences. The deadline for comments is 31 October and I encourage all members to feed in to this review, either via the online response form, post or email.
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First conference - Consumer Duty and The Evolution of Financial PlanningÂ
Dedicated to the evolution of the profession, the Alliance’s first in-person event takes place on Friday 11 October at the National Motorcycle Museum, near Birmingham.Â
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Consumer Duty and the Evolution of Financial Planning will focus on the evolving and growing importance of professional advice in an ever-changing landscape, what it means for smaller advice firms and an opportunity to hear and interact with the FCA.
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It’s a free to attend event for firms of up to around 20 people, whether directly authorised or appointed representatives, who often find it hard to interact with the FCA and share Consumer Duty experiences, challenges and successes. The event will combine keynote presentations from the FCA, sector leaders and practitioners, panel discussions and interactive sessions.Â
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Visit this page for more information and to book your ticket.
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New Talent Alliance making wavesÂ
As I hinted last month, the New Talent Alliance (NTA) is already beginning to make its presence felt and, in the last couple of weeks, has featured in a variety of articles by major trade publications. The articles are all featured on the NTA’s LinkedIn page, so make sure you’re following them if you’re interested in ideas for recruiting and developing staff.
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Thanks to everyone that’s joined the Consumer Duty Alliance as an Individual Member, Associate Member or Affiliate – such broad support really is helping us reach out to people who can help the sector demonstrate good practice in meeting the Duty’s requirements and grow business opportunity. If you’re not yet part of the Alliance, discover how to get involved here.
Finally, I am delighted to announce the appointments of Vanessa Barnes, Chartered Financial Planner and Adam Owen to the board of the CDA, with Adam also appointed as Chief Membership Officer.
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Very best wishes,
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Keith Richards, CEO, Consumer Duty Alliance and Chairman, Financial Vulnerability Taskforce