The Consumer Duty – What is it?
In 2022, our regulator, the Financial Conduct Authority (FCA), set out final rules and guidance for a new Consumer Duty that sets out its expectations for higher and clearer standards of consumer protection across financial services. It requires firms to put their clients’ needs first.
How has the Consumer Duty changed our services?
The Consumer Duty is seen as a fundamental change to consumer protection regulation. It will be necessary for many firms to fundamentally change from both a cultural and operational perspective.
At Pareto, we welcomed the new rules. We believe them to be the regulator’s confirmation of everything we represent as a company and everything we have tried to achieve for our clients.
Since Pareto was first established in 2008, at the heart of our business has been a clear and succinct purpose – to provide a positive client outcome in everything we do. We believe in the importance of financial planning and how we provide it.
We have built our reputation through our expertise in highly complex areas of financial advice. All of our services have been designed to meet the needs of our clients – ensuring the right outcomes for them at all times. We have set this out in our client charter to make sure this was always at the top of our agenda.
We are also leading the industry on best practice and have won numerous awards for our services. We were also voted one of the best Financial Advisers to work for in 2023.
Find out more
We have prepared a guide on the Consumer Duty and set out the expected outcomes, what they mean for our clients, and how we will ensure we meet them. this can be downloaded below.
Personal circumstances differ and not all of this information is applicable to every client and/or their business, this information is general in nature and should not be relied upon without seeking specific professional financial advice.
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Pareto Financial Planning Limited is authorised and regulated by the Financial Conduct Authority (FCA).