The Consumer Duty framework is all about providing fairer, more consumer-focused outcomes for the customer, implementing these both proactively and reactively.
We as lenders and you as advisers need to support consumers to ensure they receive products and services that meet their needs and are fit for purpose. We’re also committed to offering products that provide fair value, as well as providing customers with the support they need, when they need it.
We understand that for many of you as advisers, this is already the way you support your customers and Consumer Duty will complement the way you serve your clients when it comes to delivering good customer outcomes.
“Consumer Duty in its essence, is about protecting the customer. Poor quality advice can create significant harm to customers, especially those who are vulnerable. Knowing the best products to fit your clients’ needs is only possible if you understand the products which are available. A sign of a great broker is one who knows how to really listen to their client but also when to challenge. Especially if a client believes a product is the right fit but doesn’t understand the financial impact it may have.” Emma Graham, business development director at Hodge advises.
Consumer Duty supporting documents
View our Fair Value Assessments and Product Intention Guides.
Useful Dates
How can we help?
Get in touch if you have any questions about Consumer Duty.
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