Driving confidence in professional standards

Update from from 29 July to 11 August 2022.

With inflation at a 40 year height and rising living costs hitting individuals and households, index-linked protection insurance is a recurring conversation we’re having with advisers. On the one hand there is an obvious case to be made for why index-linked cover is essential, in shielding the value of a clients policy from being eroded by inflation. On the other hand advisers and their clients are rightly concerned about steep premium increases where policies do include this benefit, which in some cases could be unaffordable and force clients to simply cancel their policy entirely.

Update from 15 to 28 July 2022.

In response to today’s confirmation by the Financial Conduct Authority (FCA) of the requirement to implement the new Consumer Duty by 31 July 2023, Sarah Lord, President of the Personal Finance Society, said: "We welcome the confirmed period for implementation of the FCA’s new Consumer Duty. For many of our members, the commitments and principles it promotes are already part of their existing processes, but it is encouraging that the FCA recognises that additional time may be needed to extend these across the wider financial services profession. We look forward to working with the regulator and our members to ensure the continued delivery of good outcomes for their clients.