When the Consumer Duty came into effect in July 2023, City watchdog, The Financial Conduct Authority (FCA) was clear about setting “higher and clearer standards of consumer protection across financial services” and requiring firms to “put their customers’ needs first.” Firms must “act to deliver good outcomes for retail customers”, offering real peace of mind to investors.
This focus on customers’ needs and outcomes has a lot in common with marketing your financial advice business! Let’s look at this in more detail.