With the final rules now published, the UK wealth management sector will soon need to be ready to comply with the new ‘Consumer Duty’ rules from the regulator, the Financial Conduct Authority.
A paradigm shift as the FCA describes it, the new Consumer Principle will require, in short, firms “to act to deliver good outcomes for retail customers”. This means delivering a higher standard of customer care in everything a wealth manager does in relation to retail customers.
The FCA’s final guidance was published in late July 2022, with wealth management now required to implement the rules for open products and services by the end of July 2023 and for closed books of business by July 2024. However, each firm’s implementation plan for the above needs to be agreed by their boards by the end of October 2022.
In this live webinar, we will host an informative and engaging discussion with panelists to introduce the Consumer Duty, focus on what it means for wealth managers in the UK and the challenges it might present to them and, importantly, how they can then use technology to better meet the demands of Consumer Duty.
Hosted by Stephen Wall, Founder at The Wealth Mosaic, this live webinar will feature the expert opinions and experience of:
» Ian Ewart, Adviser at Kore Labs
» Alan Blanchard, Head of Business Development UK at Apiax
» and other soon to be announced guests.
Join us on Tuesday 11th October, 10am UK time to watch/listen in.