All you need to know about the new rules, and the support you need for planning and implementation.
The Consumer Duty final rules were published on 27 July 2022 and, with them, the FCA ushered in a new era of regulation that will affect all advisory firms. The rules contain a new principle, which states that all firms ‘must act to deliver good outcomes for retail customers’ and has four outcomes.
Products and service
Price and value
Consumer understanding
Customer support
The SimplyBiz support programme has all the information, guidance, and support firms need to understand the new rules, assess what you need to do in order to adhere to them, and to make any necessary changes. We have sessions at all our key events, an array of documentation and dedicated hub and bespoke support from our compliance and business consultancy teams.
Hear from the experts
We continue to deliver expert insight to all our Members via our core events, which include the Advice Show, a live broadcast where we bring together the very best from across the sector to provide timely insight and thought leadership.
OnDemand Footage
Guidance, gap analysis and implementation plan
We have release full guidance and support for implementation, which includes:
- A definitive guide to help understand the new rules and what they mean for your firm
- A ready-to-use template for your implementation plan, that sets out who is responsible for completing and implementing the new rules, and details the strategies you can use to build the framework
- A project plan to plot and allocate actions, and to track your progress between now and July 2023
- A gap analysis that you will need to complete as part of your actions before 31st July 2022
Want to see what our guidance looks like?
We would be happy to share a sample of our guidance with you – simply click here to request it.
PLUS
- We offer bespoke support to build your Consumer Duty Proposition, including detailed price and value analysis, via our Business Consultancy team
- Our team of Regulatory Consultants are also on hand to assist in assessing your business to determine how you are currently performing against the new requirements, signpost any actions that you need to take, and to produce a suitable action plan
- We are offering bespoke workshops to provide a real under-the-bonnet look at the rules and practical examples of Implementation
'It's not a sit back and watch presentation - oh no!
This is where we show you how to build your plan, with practical advice, examples and a unique tool to measure price and value. We're rolling up our sleeves and putting ourselves in your shoes!'
Karl Dines
