We were approached by an industry-leading UK Wealth Management Platform, who after having completed a series of acquisitions had then undertaken the task of assessing the Consumer Duty compliance of the business’ current governance structure, internal culture, processes, and E2E customer journeys including the written and verbal communications taking place throughout.

Approach:

Establishing a process taxonomy and collaboratively prioritising the identified processes enabled us to focus our approach at pace into a series of key assessments.

We utilised our own artefacts and compared the specific customer outcomes against the as-is processes reviewed to highlight areas where improvements could be made to either improve the customer journeys and subsequent data outputs or to better use existing framework works defined within the firms.

Collaboratively with the appointed Consumer Duty accountable members of the Senior Leadership Team, we were able to agree on next steps and expedite changes in

Results:

With the proposed improvements agreed at the senior level the cultural changes needed to fully embed the Consumer Duty principles across the business. Redesigned processes were customer-centric with touchpoints seeing improvement to provide maximum value for both firm and client which supported the creation and improvement of data sets to evidence compliance.