Your Consumer Duty support zone
The Financial Conduct Authority (FCA) is introducing a new Consumer Duty programme to achieve higher levels of consumer protection in retail financial markets. It sets the standard of care that firms should give to customers. The Consumer Duty applies to all FCA-regulated firms that provide products and services to retail customers. Here you can access dedicated support materials and resources as you work towards implementing the Duty within your firm.
Our Target Market statement helps to identify whether we are offering the right product or service to the right customer so they can achieve their investment goals.
You can access the current year’s Value for Money Statement and statements from the previous two years using the links below:
The Consumer Duty has recently imposed additional rules and guidance on how vulnerable customers should be treated. In this video, Paul Richards talks to Andy Harrison, who is responsible for ensuring the fair treatment of vulnerable customers at Fidelity, about the practical steps advice firms can take to ensure good outcomes for these clients.
The latest FCA Financial Lives survey estimates that 24.9 million UK adults have characteristics of vulnerability. Vulnerable customers are therefore likely to make up a large proportion of most firms’ client banks. Here we present some examples of how Fidelity, along with the client’s adviser, have helped customers in vulnerable situations.
Enhanced client survey
The Consumer Duty requires firms to put customers at the heart of their business. As such, the FCA recommends collecting client feedback to monitor and improve what customers think about the service they receive.
We've partnered with Elevation, the enhanced client survey from VouchedFor, to offer our supporters their first month of the service free. You can request a demo here.
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