Some firms are in a better place than others when preparing for Consumer Duty

Preparedness for Consumer Duty among UK financial advisers, as of January 2023

100%

Unaware of Consumer Duty

1.0%

7.5%

Work has not yet started

8.7%

An implementation plan is in the works, but the deadline may not be met

27.9%

75%

Reasonably significant work is required over the coming months

43.0%

50%

An implementation plan has been carried out, with some minor amendments

25%

12.0%

The necessary changes have been completed

0%

100%

Unaware of Consumer Duty

1.0%

7.5%

Work has not yet started

8.7%

An implementation plan is in the works, but the deadline may not be met

27.9%

75%

Reasonably significant work is required over the coming months

43.0%

50%

An implementation plan has been carried out, with some minor amendments

25%

12.0%

The necessary changes have been completed

0%

100%

Unaware of Consumer Duty

1.0%

7.5%

Work has not yet started

8.7%

An implementation plan is in the works, but the deadline may not be met

27.9%

75%

Reasonably significant work is required over the coming months

43.0%

50%

An implementation plan has been carried out, with some minor amendments

25%

12.0%

The necessary changes have been completed

0%

100%

Unaware of Consumer Duty

1.0%

7.5%

Work has not yet started

8.7%

An implementation plan is in the works, but the deadline may not be met

27.9%

75%

Reasonably significant work is required over the coming months

43.0%

50%

An implementation plan has been carried out, with some minor amendments

25%

12.0%

The necessary changes have been completed

0%

Lang Cat Financial, 2023