Welcome to our Guide to the new Consumer Duty.
At Radcliffe & Co, we have always prioritised our client’s needs and provided professional financial advice tailored to an individual’s circumstances. We wholeheartedly support introducing the new Consumer Duty rules, which will establish an industry-wide higher standard of care for all clients.
Even though you may have already read or heard about these rules, this guide provides an overview of what they are and how they relate to you. We pride ourselves on delivering the highest standard of client service, guided by our core values of integrity, reliability, and fair value. The new Consumer Duty principles extend our commitment to these core values.
Sound financial decisions
Introducing the Financial Conduct Authority’s (FCA) new Consumer Duty rules puts client care at the heart of all financial services firms, culturally and practically. It enhances client protection by setting higher and clearer standards, compelling firms to prioritise each client’s needs.
Effective 31 July 2023, this duty ensures clients can expect crystal-clear communications, tailored products and services that meet their specific needs, genuine value, and prompt and effective support whenever required. Given the current economic climate, it is paramount that every client should be able to make sound financial decisions.
The new Consumer Duty rules will enhance each client’s service and reinforce the need for all financial advice firms to act with integrity, provide reliable services, and ensure clients receive fair value. These principles reassuringly endorse our already ingrained client-first culture.
We hope you find our Guide to a New Consumer Duty informative, and if you have any further questions, please contact us.