The Consumer Duty is the biggest overhaul of financial regulation since RDR in 2013 and the arrowhead of a regulatory culture shift towards outcomes-focused, proactive regulation where unwanted behaviours can be spotted and dealt with as they happen.
It will almost certainly have some impact on adviser businesses, irrespective of how customer-centred they already are, since it requires a higher standard of proof that adviser firms are delivering good client outcomes.
Check out our four Quick Guides to meeting the Consumer Duty Outcomes.