Bridging the advice gap: The role of Consumer Duty Alliance

In this episode, we meet Keith Richards, the founder and CEO of Consumer Duty Alliance, as we explore the organisation's efforts to collaborate with Independent Financial Advisers (IFAs) and the Financial Conduct Authority (FCA) to improve consumer outcomes.

As the Alliance nears its two-year mark, Keith shares insights into the formation and objectives behind Consumer Duty Alliance, including its roots in the Financial Vulnerability Task Force.

We delve into the challenges and successes of aligning different groups and voices within the financial sector, discussing the Alliance's unique approach to fostering good practice and positive change. Keith emphasises the importance of outcomes-based regulation and the shift away from prescriptive rules.

We also take a closer look at the FCA's commitment to collaborate with small and large firms, sharing evidence of regulatory shifts and initiatives, aimed at advancing access to quality financial advice.

This episode is the first in a two-part series, look out for the next episode, where we will take a closer look at the challenges surrounding the advice gap.

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