Host Caroline Stuart from Sparrow Paraplanning is joined by Heather Hopkins of Next Wealth to explore how financial advice practices have addressed – and continue to address – the demands of The Consumer Duty.

What did we cover?

As well as recapping what firms are expected to do about the Duty, Caroline and Heather also considered what they could do thanks to the opportunities it presents. Over the course of the lunch-hour session two significant themes emerged:

how firms are demonstrating the value of their advice; and

how to prove that clients really understand what they can expect from their financial plan

To bring the topic to life, Heather shared insights from consumer research recently carried out by Next Wealth (see the downloads below) which reveals what clients value – essential intel for 

With its focus on practicalities of implementation illuminated by evidence from original research, it proved to be a really informative and engaging hour.

Useful links

Heather refers to a set of slides during the Assembly. Here they are:

NextWealth - The Consumer Duty (opens PDF)

Want to take part in future research by NextWealth? Join the panel here:

https://www.nextwealth.co.uk/research-panel/

Follow this link to receive a personalised certificate to add to your record of CPD:

https://bit.ly/47YwVLe

Heather mentioned the Financial Advice Business Benchmarks Report (FABB). Here's the latest edition:

https://www.nextwealth.co.uk/research/financial-advice-business-benchmarks-report-2023/

NextWealth's website

nextwealth.co.uk

Caroline’s site/s

sparrowparaplanning.co.uk and sparrowsols.co.uk

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