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Support for delivering good outcomes in practice

SUPPORT FOR DELIVERING GOOD OUTCOMES IN PRACTICE

NEWSLETTER – JULY 2026

With many firms now reviewing client outcomes as part of their annual Consumer Duty reporting, the FCA's recent ‘Outcomes monitoring: good practice and areas for improvement’ publication highlights what good outcomes monitoring looks like in practice and where firms can strengthen their approach.

This provides a particularly welcome focus on good practice examples specifically for smaller firms and highlights that effective outcomes monitoring does not necessarily require sophisticated systems or vast amounts of data, demonstrating proportionality for small firms in action.

Instead, smaller firms are encouraged to use a more limited but meaningful set of data and importantly, be able to explain in plain language what this information shows, how it helps them identify harm or poor outcomes, and what they do in response to improve client outcomes.

We’d encourage all firms to review this useful update: Outcomes monitoring: good practice and areas for improvement

Firms may also wish to revisit some of our existing guidance in this area.

How to Monitor Client Outcomes Effectively and Practically – a webinar exploring proportionate monitoring frameworks and practical case studies.
Consumer Duty: The Secrets of Customer Outcome Monitoring – a white paper providing practical insights to support good outcomes monitoring.

TRANSITIONING INTO RETIREMENT - A 'VULNERABLE EVENT'

One area where firms increasingly need to demonstrate good client outcomes is during major life transitions.

Our recently published guide, Transitioning into Retirement - a ‘vulnerable event’ and its impact on financial advice and planning, explores why the FCA considers retirement to be a period of heightened vulnerability and the growing complexities that many clients face.

Developed jointly by the Financial Vulnerability Taskforce and Retirement Income Taskforce, and sponsored by L&G, the guide provides practical support to help advisers recognise and respond to the financial, emotional, health and behavioural challenges that can arise in later life.

HOW TO RECORD INFORMATION ABOUT CLIENTS IN VULNERABLE CIRCUMSTANCES

During the interactive vulnerability case studies with the FCA at our recent regional events, it became clear that many firms are seeking greater clarity on recording vulnerability-related data.

Our latest practical guide, How to record information about clients in vulnerable circumstances, explains how firms can capture, maintain and use this information lawfully and effectively under Consumer Duty, UK GDPR and the Data Protection Act 2018.

Developed in partnership with data protection specialists Fintect, it provides plain-English guidance, practical checklists and good practice considerations for both business owners and those responsible for maintaining client records.

HELP INSPIRE FEMALE TALENT

Our new Women's Wealth Alliance guide, Your Career in Personal Finance, is more than simply a careers resource – it's a call to action.

Research commissioned by the WWA found that only 7% of women entered the profession because they were inspired by other women already working within it. The guide, supported by a series of video interviews, provides an honest and relatable introduction to a career in personal finance, informed by women's lived experiences.

Firms can play an important role by sharing the guide within their communities to help to increase awareness of the many rewarding career paths available across the profession.

HOW OPEN FINANCE CAN OPEN DOORS AND OPPORTUNITIES FOR ADVISERS

If you missed our July Tech Forum webinar, hosted by Ian McKenna from FTRC, you can view the recording here. The session explores how open finance can support advisers across wealth, mortgages and protection, engage the next generation of clients, and help firms unlock new opportunities through technology.

NATIONAL CONFERENCE

Join us in Birmingham on 22nd October 2026!

Focusing on the future of personal finance and including uniquely insightful and interactive sessions with the FCA, many of the themes highlighted throughout this newsletter - from Consumer Duty and vulnerability through to talent, technology and future business opportunities - will be explored in greater depth at our national conference, Empowering the Evolution of Personal Finance.

As firms navigate economic uncertainty, technological innovation and changing consumer expectations, this conference will bring together senior FCA leaders, expert speakers and industry professionals to explore the challenges and opportunities shaping the future of personal finance.

Don't just keep pace with change – help shape it. Join fellow professionals for a day of insight, inspiration and practical ideas to support your firm's future success!

We hope to see you at Birmingham’s National Motorcycle Museum on Thursday 22nd October but tickets are going quickly! Secure your place here.

‍WEBINAR - CARE CONVERSATIONS: WHEN (AND HOW) TO START

Care planning is an important but often overlooked part of holistic financial advice. Earlier conversations can help clients and their families prepare for future decisions, while giving advisers an opportunity to deliver greater value and support better outcomes.

You can watch this useful webinar from the team at Just Group in partnership with My Care Consultant on demand.

Watch here

STRENGTHENING DISABILITY PLANNING SUPPORT FOR FAMILIES

Families with a disabled or additional-needs family member often face some of the most complex and long-term financial, legal and care planning challenges. Yet many professionals still lack the confidence, knowledge and processes needed to identify and support these families effectively.

To help address this, SENDA is currently gathering evidence for its State of UK Disability Planning white paper and are asking financial advisers to complete a short survey to help inform professional standards, policy development and, ultimately, better outcomes for families.

For those looking to build their capability in this important area, SENDA's LIBF-accredited Special Needs Planning Foundation Course provides a practical introduction to supporting families with disabled or vulnerable dependants. The online, on-demand, three-hour course is designed for advisers and paraplanners and helps build the awareness and confidence needed to deliver good outcomes under Consumer Duty. No prior SEND experience is required.

Course completion also provides access to SENDA Community membership, including a range of member benefits and the opportunity to use the SENDA Community logo.

Click HERE for a 20% discount, or contact SENDA directly if you'd like to arrange in-house training for multiple employees

INCOME PROTECTION ACTION WEEK 2026

Income Protection Action Week (IPAW) is an annual online event, created to highlight the importance of income protection. Running throughout 21st - 25th September 2026 (12-1pm), it hosts a series of sessions from expert panels and real-life case studies, to practical skills and honest industry conversations, all aimed at helping to start more meaningful conversations with clients about protecting their income.

Find out more and register here - IPAW 2026 - Income Protection Task Force

‍ADVISER AND AI - TECH GUIDE

July's issue of AdviserSoftware.com’s ‘Adviser AI & Tech - Everyone you need to know’ is now available.

This provides a comprehensive guide to the technology available to advisers, with over 300 independent reviews of current services from over 200 tech suppliers, all undertaken the experienced team at AdviserSoftware.com.

‍RETIREMENT ADVICE AND IHT CHANGES RESEARCH

The proposed inheritance tax changes to pensions are prompting many advisers and clients to reconsider their retirement planning strategies. To better understand the impact on advice practices, Adviser Home, in partnership with Fidelity Adviser Solutions, is conducting research into how advisers are responding to these developments.

The findings will help shape a new guide to retirement advice, capturing adviser perspectives on a range of key retirement planning issues and highlighting emerging trends across the profession. All responses will be anonymised. The survey takes just a few minutes to complete and will provide valuable insight into how your approach compares with that of your peers. Participants will also be entered into a prize draw to win £200 in Amazon vouchers.

https://www.surveymonkey.com/r/PMNZKPZ

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