Tag Archives: Consumer duty
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
Posted in pensions
Tagged Consumer duty, Drawdown, financial advisers, IFAs, Pensions, VFM
2 Comments
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
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
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
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
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
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