How will consumer duty affect advisers' day-to-day role?

The new consumer duty, for which the rules were confirmed in July, won’t see a substantial amount of change for advisers, according to the guests on the latest FTAdviser Podcast.

Speaking to deputy news editor Sonia Rach, this week's podcast guests, Simon Harrington, head of public affairs at Pimfa, and Mike Barrett, consulting director at the Lang Cat, said there was likely to be little change coming for advisers. 

In the discussion, they discussed the actual provision of giving advice, assessing suitability and how it differs from the RDR regulation previously.

The discussion also touched upon the “theme of proportionality”, taking into consideration the impact the consumer duty will have on one-person advice firms.

The FTAdviser Podcast is the podcast for financial advisers, brought to you by FTAdviser. Each week, FTAdviser is joined by guests from the industry to discuss the week in news and pressing industry issues.

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