The new Consumer Duty came into force on 31 July 2023, heralding a whole new world of regulation across retail financial services. 

As the external environment continues to change, so will consumer needs and FCA expectations - we'll continue to keep you updated with our range of support material. Keep checking back, we'll be adding new resources on a regular basis.


More resources to support you

Watch our top 10 tips video
Steven Cameron outlined his top ten tips to get ready for the deadline in this short video - they remain useful checks for your firm's plans.

Your guide to the Consumer Duty
In this in-depth guide, Steven Cameron, Pensions Director, analyses key considerations of the new Consumer Duty for adviser firms, including an overview of the final rules, timelines and potential impact on your business.

New Consumer Duty: your questions answered
We answer some of the key questions we’ve received about the implications of the new Consumer Duty, ranging from questions about the rules, to what we're doing as a result.

Impact on EBCs and workplace pensions
If you’re wondering how the Consumer Duty will impact workplace pensions and your role as an Employee Benefit Consultant (EBC), here’s our take on the key questions and answers.

Consumer Duty and DB transfer advice
In this Money Marketing article, Steven Cameron highlights the areas where the Consumer Duty may have specific implications for DB transfer advice.

What the FCA is looking for in its retirement income advice study
In this FT Adviser article, Steven Cameron focuses in on the many overlaps between this study and the Consumer Duty. This includes considerations for clients with vulnerabilities and expectations around the design of advice solutions and target markets for clients in decumulation.

Uncovering the advice industry's response to Consumer Duty

To find out how other advice firms responded to the new rules, we asked NextWealth to share what they heard from advisers and their clients, focusing on three key areas - demonstrating value, consumer understanding and evidencing and monitoring.

Download the guides below to hear how other advisers are approaching the Consumer Duty. You’ll also find useful action points to consider:

Watch our webinar to hear a summary of all the findings and insight from Steven Cameron, Aegon's Pensions Director, NextWealth's Heather Hopkins, and David Kerr, Aegon's Platform Consultancy Director.

Thumbnail of the Consumer Duty Demonstrating Value guide.

How are advice firms demonstrating value?

In this first guide, you'll hear what advisers consider value for their clients, approaches to measuring value, and what advised clients say they value most.

Thumbnail of the Consumer Duty Consumer Understanding guide.

How are advice firms demonstrating consumer understanding?

Discover how advisers are approaching client communications and concerns about foreseeable harms.

Thumbnail of the Consumer Duty Evidence and Monitoring guide.

How are advice firms evidencing and monitoring good outcomes?

Find out how firms are adapting their approaches to gathering MI, with a focus on target markets and segmentation.

FCA consumer duty resources

FCA portfolio and sector-specific letters

The FCAs portfolio and sector-specific letters to firms set out their expectations for implementation, and reflect findings from their review of firm implementation plans. You can find all the latest portfolio letters in the Portfolio and sector communications dropdown of their information for firms page.

An increased emphasis on financial wellbeing could play a key role in implementing the new Consumer Duty.