Supporting you to deliver good customer outcomes
We're here to help you understand Consumer Duty and what action you need to take.
What is the Consumer Duty?
The ‘Consumer Duty’ is a new standard set by the FCA. It builds upon existing regulations to set higher expectations for the standard of care that firms provide to retail financial customers.
This standard aims to enable consumers to make good financial decisions and have greater trust in firms, by ensuring that they focus on:
Quilter’s assessment of value and due diligence
As part of the Consumer Duty, Quilter is required to clearly explain who our products and services are suitable for, and the value that we provide.
As an adviser, it’s important that your advice and recommendations reflect this value.
We understand that your clients needs evolve through their lifetimes, so our platform products and services are designed to adapt and evolve as their lives change.
To help you complete your assessment of value and due diligence, we have produced all the product governance and regulation information you’ll need.
Quilter’s closed book review
As part of our responsibilities under Consumer Duty we have completed our closed book value assessment.
In 2021 the Financial Conduct Authority (FCA) introduced guidelines around the fair treatment of vulnerable customers.
They state:
“Characteristics of vulnerability may result in customers having additional or different needs and may limit their ability or willingness to make decisions and choices or to represent their own interests”.
With vulnerable customers referenced and considered throughout the Consumer Duty papers, we're here to help you provide the right support to your customers.
We aim to embed the fair treatment of vulnerable customers into our policies and processes throughout the whole customer journey, ensuring that vulnerable customers experience the same good outcomes as other customers.
Clients in vulnerable circumstances
Roddy Munro, Head of Proposition Specialists at Quilter, discusses the Consumer Duty and the four key drivers identified which may increase the risk of customer vulnerability.
QTalk: Your investment advice and Consumer Duty
Watch lead Investment Director, Andy Miller, discuss the Consumer Duty, what it means for your investment advice and how an MPS solution can help you and your clients.
To help you meet the regulator’s deadlines, we’ve created some support material to help you and your business be ready:
Information for Asset Managers available on our Platform
All you need to know about the Quilter Platform’s Target Market and Assessment of Value, and the latest on the provision of ongoing monitoring data for you can be found in a set of informative Questions and Answers.
Looking for something more specific?
We’re here to help advisers. So, if you can’t find what you’re looking for, please get in touch and we'll do our very best to help you.