The Financial Times ran an article at the weekend, and The Times has certainly referred to this as well, regarding a new Financial Conduct Authority (FCA) initiative called Consumer Duty.
You may well have heard about this new FCA objective already.
This new initiative covers four areas of retail financial services; Price & Value, Understanding, Support and Products & Services.
Furthermore, the FCA expect firms to act in good faith, avoid foreseeable harm and be instrumental in helping their clients achieve their financial objectives. All of which make sense and are what we have always adhered to, even before this new FCA initiative.
We have posted four guides on our website explaining our approach to the four areas referred to above and hope you will find them informative and useful.
You will note that the FCA expects us to monitor our approach to these four areas so we can adjust the way we work to provide a better service for you, so I hope you can help us out by providing feedback from time to time.
Managing Director, Foundation Financial Planning