Less than a third of financial advisers feel fully supported by their preferred discretionary fund management partner (DFM) on the Consumer Duty, a new survey has warned.

The Waspi campaigners have certainly stung a few backsides at the DWP this week and I can’t help but admiring their pluck. This doesn’t necessarily mean I agree with the entirety of the argument but it is worth exploring why they are so determined and why they need to be listened to.

Phoenix Group, owner of Standard Life and Sun Life, has reserved £70m for the potential impact of Consumer Duty legacy product costs, it revealed in its annual results today.

FCA CEO Nikhil Rathi has said that the FCA will take a ‘pragmatic’ approach to enforcing its new Consumer Duty.