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Consumer duty requests from providers

Journalist: Carmen Reichman, FTAdviser

ended 20. June 2024

Dear advisers

Have you in the past year tied to request data from providers about closed book clients?

If so, I'd be interested to hear about your experience. Were providers able to provide you with everything you needed? Or was it a struggle and are their data gaps?

Overall, how well prepared do you feel providers are for the next phase of consumer duty and what does that mean for your business?

Please feel free to respond my email or here. carmen.reichman@ft.com

Thank you!

Carmen

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Editor
David Stirling
Independent Financial Advisor at Mint Wealth
Retrieving information from existing providers is becoming more challenging as ever increasing barriers are put up. It would be good if providers started to accept an online signature process allowing access to help review client details more efficiently instead of writing to clients confirming signatures or requesting further permission. They are well aware that the letter of authority could well spell the end of their relationship with the client so seem to put zero effort into supplying the info readily and timely.