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What difference will the consumer duty make to client communications?

Self recorded

Wednesday 26th April 2023





Event title image reads 'What difference will the consumer make to client communications?' An online Assembly held on 26 April 2023. Featuring Gemma Knight of Compliance and Training Solutions (CATS) and Steve Cameron of Aegon UK

New consumer duty rules come into force on 31 July (for new products and services, that is).

Yet as recently as last month, Citywire reported that 59% of advisers have not started preparing for the July deadline – that’s according to a survey of 1,000 advice firms commissioned by Aviva.

It got us wondering: what’s going on in advice practices across the UK?

Are firms comfortable with the deadline because they’re confident they’ve got all the consumer duty bases covered? 

Or could they be underestimating the effect the consumer duty rules will have on how we all communicate with clients?

What’s happening where you work? And with client communications at the heart of the Duty – and the role of paraplanners – should we be worried?

To explore what’s going on, we invited Aegon UK’s public affairs director, Steven Cameron, and Gemma Knight, a director of Compliance and Training Solutions (CATS), to join us online for a lunch-hour Assembly.

Is your firm ready for the 31 July deadline? 

Watch the replay or listen to the podcast to find out!


Gemma Knight

Gemma has over 20 years experience in financial services. Her career began with NatWest where she rose to become a branch manager before taking a leap into the regulated advising world with Santander.

My experience as an adviser taught me how much a good adviser can help a client to achieve their goals. However it's also exposed me to issues where client detriment could have been prevented if the right procedures were in place at outset.

It's this that prompted my move into compliance because I wanted to help firms who clearly have their clients needs at heart, navigate the FCA rules and help ensure client harm is kept to a minimum.

When I joined CATS, I realised I had found like-minded people who really believe that compliance shouldn’t be a barrier to business and, once incorporated into firms practices and procedures, really benefits the business and clients over the long term.

Steven Cameron

Steven Cameron is Aegon UK’s Public Affairs Director, with responsibility for analysing and lobbying on proposed changes from regulators and Government regarding pensions, savings, regulation and the provision of advice. Steven led Aegon’s engagement with the FCA on the Consumer Duty proposals and champions collaboration between advisers and providers as the Duty approaches implementation.

He is one of the industry’s top commentators on these topics across trade and consumer media. An actuary by profession, he has over 35 years’ financial services experience. He is Chair of TISA’s Retirement Policy Committee and a member of their Strategy Committee as well as Financial Guidance and Social Care working groups.

Event resources

Useful links

Steven mentioned Aegon UK’s consumer duty hub during the Assembly. Here’s the link:

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