As the next stage of the FCA's Consumer Duty looms in July - when legacy products and sales will be included - some new research suggests the Duty may be rather more of a burden on Financial Planners and advisers than first thought.

Six months after it was implemented, over two fifths (45%) of IFAs believe the Consumer Duty has made it harder to advise clients.

Firms must engage better with ‘less engaged’ and ‘gone away’ clients as the Consumer Duty deadline on closed products looms, the FCA has said.

The Personal Finance Society (PFS), a professional body for Financial Planners, has launched a new competency diagnostic tool to help firms identify training opportunities relating to Consumer Duty knowledge gaps.