We are very excited to announce that we are now an Affiliate Member of The Consumer Duty Alliance. This is an independent, not-for-profit community interest company, launched in March 2023, aiming to help the personal finance sector successfully implement the FCA’s Consumer Duty.
Incorporating the Financial Vulnerability Taskforce, the Alliance works with practitioners and subject matter experts to help personal finance staff and regulated firms understand, meet, and deliver the FCA’s Consumer Duty requirements.
The Consumer Duty Alliance's mission is: To inspire and increase public confidence and trust in the financial advice and planning sector through the delivery of consistently good consumer outcomes, so consumers view Alliance members and the wider sector alongside other professional services as a 'safe pair of hands'.
Its vision is: To leverage the regulatory focus on Consumer Duty and Vulnerability to:
Raise public confidence and trust in professional financial planning services by increasing consumer understanding of how it adds value to their lives and best interests.
Encourage greater public access to financial advice and professional services by…
Raise the public’s perception of financial advice and planning alongside all other professional services as a ‘safe pair of hands’.
As an affiliate member, we are committed to the Alliance Code of Professional Standards and will always:
Act in good faith in all dealings with clients.
Always avoid causing foreseeable harm to clients.
Inform, empower, and support clients to pursue their financial needs, objectives, and aspirations.
Fully disclose, clearly explain, and consciously mitigate any conflicts of interest identified in our dealings with clients, including where commercial interests might conflict with a client's best interests.
Only offer products or services that are both suitable and needed, offering fair value and transparent pricing.
Ensure clients receive the support they need when they need it.
Embrace a focus on customer vulnerability including adherence to the Consumer Charter of the Financial Vulnerability Taskforce.
If you would like more information please do not hesitate to get in touch with us.