Tag Archives: Consumer duty

The FCA’s thematic review of advice

This review is a piece of discovery work to explore how financial adviser firms are delivering retirement income advice and assess the quality of outcomes consumers are getting.  The FCA’s state intention goes beyond understanding how pots are being turned … Continue reading

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The Consumer Duty – what was said and by whom – at Pension PlayPen’s coffee morning this week.

Judge for yourself how the FCA presents their attitude to the consumer duty by watching the video above or read this account of this week’s  Pension PlayPen coffee morning  in FT Adviser. Michael Lawrence, who didn’t speak under Chatham House … Continue reading

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Financial advisers – how do we know if our drawdown strategies stack up?

    This blog’s for financial advisers who have a duty to consumers to assess the value of what they’re doing for their clients. It is also of interest to anyone who fancies themselves as their own adviser when it … Continue reading

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Pension Dashboards and the new Consumer Duty

It’s already a commonplace  that the Consumer Duty shifts the obligation on those providing financial services  from “treating a customer fairly to treating that customer well“. The Pension Dashboards set out to provide a good customer experience, they will be … Continue reading

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The consumer duty – another important step along the road.

There is already an instrument in place that determines value for money – it is called the free market. If a client feels they are not getting value for the product or service they are paying for, they go somewhere … Continue reading

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Respect your elders – it’s your consumer duty!

Action we’re taking on pensioner poverty Over the past few days I’ve been assembling my thoughts for a meeting with some industry big-wigs to discuss how the private sector can best address pensioner poverty. The meeting came out of work … Continue reading

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Why small pots are jeopardising state benefits

  In this article I explain why it’s often best for people with small pension pots to spend their income before they get to state pension age. The over-prudent who hold back – can risk losing out on pension credit. … Continue reading

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Pension’s consumer duty is to give value by default.

  Time to take a step back and ask ourselves “what are we trying to do with pensions policy?” On Monday I was discussing why £1.8bn is going unclaimed because we can’t give the money away, on Tuesday I am … Continue reading

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Asleep in a meeting? The FCA’s new consumer duty starts at the top.

  I have no reason to doubt Al Rush of Philippa Hann’s account of a 2019 meeting with then FCA boss’ Andrew Bailey. Al claims that “there were a number of times when his [Bailey] head dropped and he had … Continue reading

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