21 Mar 2024, 11:00 am - 12:00 pm | UK & Europe
We hosted the Consumer Duty Champions Forum, held by the Consumer Duty Alliance, an independent professional body, bringing together individuals and firms as they implement the FCA’s Consumer Duty requirements.
The implications of the Consumer Duty for investment advisers have received lots of attention. But what about those in the mortgage or protection space? This Consumer Duty Alliance Champions’ Forum focuses on how the Duty impacts firms and individuals offering mortgage and protection services.
Michael Lawrence and his expert guests discussed issues such as:
- What are the Duty’s implications for designing distribution models? – product ranges, customer journeys and sales processes.
- How do the Duty’s price and value requirements impact commission and fee structures?
- How can firms ensure they give customers the information they need to make good purchase decisions?
- How can firms ensure they give customers enough ongoing support?
- How should firms service customers identified as being vulnerable?
- How does Consumer Duty impact these market developments?
- Loaded premiums
- Over 50’s life cover
- Non-advised sales
Speakers
Michael joined our team following 16 years at the FCA, most recently as a Technical Specialist in Consumer Investments supervision. He has an in-depth understanding of the regulatory frameworks governing advised and non-advised pension/investment sales, product governance, complaints and redress.
Tom Baigrie
Tom is the founder and Chair of LifeSearch, which every week helps over 2,000 people protect themselves and their families against the financial catastrophe that death or disability can cause.
Tom started LifeSearch back in 1998 and called it that because it searches out the best covers from all the UKs life insurers. Today LifeSearch’s 500 strong team is recommended by Which?, Compare the Market, MoneySuperMarket, Lloyds Bank, BIBA and many others.
In 2023 Life Search was again recognised as the market’s Best Protection Intermediary. Since 1998, Tom and LifeSearch have seen over 100 industry judging panels deem them the best at what they do, but the award that Tom is proudest of is LifeSearch’s third place, at the first time of entering, in the ‘Sunday Times Top 100 Best Companies to Work For’ listing.
Robert Sinclair
Robert helped establish the Association of Mortgage Intermediaries (AMI) as an independent entity on 1 February 2012. He joined the former parent trade body, AIFA, in October 2006, initially looking after the Association of Finance Brokers and since 2008, AMI.
Robert has held a number of front-line sales roles in personal, private and corporate banking, combined with experience in marketing, training and internal audit with both HSBC and Santander.
Previously a non-executive director of the Buckinghamshire Building Society for five years, Robert is now a non-executive director and Board Consumer Duty Champion at the Darlington Building Society, and advises the Bank of England as a member of the Residential Property Forum.
Richard Howells
Richard joined the LSL network in November 2023.
He has been in the adviser market for over 30 years leading distribution, manufacturing and technology businesses. He is a passionate believer in the value of advice and welcomes regulatory initiatives such as the Consumer Duty as ways of further enhancing the reputation of the advisory profession.
Richard believes that the future is bright for advisers and is excited to lead PRIMIS to deliver the services needed by firms to drive their growth.
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