The FCA’s Consumer Duty, introduced in July 2023, has become a driver of change across UK financial services. Its goal—to ensure good outcomes for retail customers—has prompted firms to reassess how they serve clients, prioritising fairness, value, and transparency.
Kidbrooke, a unified analytics platform for investment and wealth, has delved into consumer duty and how to turn the regulation into an opportunity.
Despite its ambitions, the Duty’s impact has been mixed. At The Lang Cat’s “Divide and Conquer 2025” event, Zara Okoro from the PFS Paraplanning Panel suggested that meaningful change is lagging. She highlighted persistent complexity in the industry, citing the example of having to explain annuities to a friend who had already consulted a professional, Kidbrooke stated. For Okoro, the issue isn’t just technical knowledge—it’s about improving how advice is communicated so that clients can understand and trust it.
Similarly, Ellis Davies chartered IFA Samantha Gratton pointed out that intangible factors like peace of mind and trust are often what clients value most. These harder-to-measure outcomes are becoming essential to what makes a good planner, with Consumer Duty acting as a catalyst to bring them into focus.
The FCA is reportedly reviewing aspects of the Duty to ease compliance burdens without compromising its intent. However, firms are still expected to actively demonstrate they act in customers’ best interests.
Digital tools are proving crucial. Deterministic financial analytics platforms, such as KidbrookeONE, allow firms to offer consistent, objective advice tailored to clients’ unique needs. These tools support compliance and improve engagement through intuitive simulations.
Importantly, they can also address the challenge of “orphaned clients”—those without an assigned adviser—by delivering personalised, automated journeys that re-engage underserved customers.
By embedding analytics into digital experiences, firms can scale with confidence, enhance transparency, and turn compliance into a differentiator. For those ready to act, Consumer Duty offers a powerful opportunity to improve outcomes, build trust, and lead in a more client-focused future.
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