Majority of advisers to pass on Consumer Duty costs to clients

In a survey carried out between late February and early April 2023, Panacea Adviser asked 136 advisers about the impact of the Financial Conduct Authority's Consumer Duty and whether they were prepared for it. The Consumer Duty, which is set to take effect on 31 July, has raised concerns among advisers regarding the potential impact on their business operations and the subsequent financial burden on their clients. The survey also revealed that 16.7% of advisers said they will not apply any increased business costs, while 16.7% said they are unsure. Moreover, 2.8% of advisers did no...