Consumer Duty

The introduction of Consumer Duty in July 2023 represented one of the most significant regulatory changes imposed on FCA-registered firms in recent years.

We recognised the issue smaller businesses faced and developed a bespoke Consumer Duty Toolkit to make implementation as simple and cost-effective as possible.

Why do I need a toolkit?

Our toolkit aims to empower clients and enable you to meet the standards without having to re-invent the wheel.

It recognises the important cultural change Consumer Duty represents, shows you how the excellent work you are doing already fits into the regulations and guides you through the process of producing good outcomes for customers.

Whilst helping firms through the implementation process, it became necessary to adapt and amend parts of the toolkit so it was fit for purpose. It resulted in the creation of a Consumer Duty support package that allows the toolkit to be tailored to your needs, rather than leaving you to interpret the templates in isolation.

We now offer clients the choice of using the toolkit independently or working through it with us, as required.

Expert help from B-Compliant

The toolkit forms part of our document library for clients and comprises templates that can be personalised to evidence how activities align with the regulations and promote positive outcomes.

These include a:

  • Benchmarking tool
  • Firm summary template
  • Due diligence questionnaire
  • Email templates to use with providers
  • Annual board report template
  • Data strategy template
  • PROD summary template
  • Testing consumer understanding guide
  • Value assessment template
  • Cost of service calculator
  • Value assessment analysis support tool
  • Staff training PowerPoint

If you would like to know more about our Consumer Duty Toolkit, don’t hesitate to contact us.

Get in touch

If you need help or advice about Consumer Duty get in touch with us today