Watch our short video where John Reynolds gives you a very short summary of what Consumer Duty actually means and cuts through the 300 plus pages of the FCA policy statement.
In a nutshell the new consumer principle is ‘Treat your clients as you would want to be treated yourself’.
Are your advice and solutions the same ones you would recommend for yourself and your family?
Would you pay the same fees your clients are paying?
Are you giving the same advice, services, process and product that you would for your own family?
Consumer Duty – Principle 12
There are 4 outcomes and here we are talking about 1 of those principle ‘Customer Understanding’ as this encircles the whole of your best interests advice and in two words means EDUCATION FIRST.
Education is at the heart of everything we do at Expert Pensions, guiding, mentoring and training. We want to inform you and advisers to be the best you can be, to deliver the best advice you can in the best interests of the client.
That passion for education needs to be built into your advice process to help your clients understand what they are doing and your business and your advice will be stronger.
Our PTS knowledge hub is designed to enable you to keep abreast of the policies and processes to maintain and build your professional knowledge through a single online portal, providing you with a record of your development as you progress.
Our learning and development materials will provide you with insight, best practice and technical refresh to ensure you maintain and enhance the knowledge and skills you need to deliver a professional service to your clients, your business and the financial services industry.
