Consumer Duty

You may be aware that the Financial Services regulator, the Financial Conduct Authority (‘FCA’), has launched rules and guidance for a new Consumer Duty.

In its scale, breadth of scope and ambition, the ‘new Duty’ is perhaps its most important regulatory intervention in a decade.  The FCA rightly describes the Duty as a fundamental shift in its approach to regulation, marked by a greater focus on the outcomes  that the consumer experiences. Firms will be required to actively assess and evidence the extent to which they are acting to deliver good outcomes for their retail customers.

At CAM, we welcome this wholeheartedly as these are the very principles our firm was founded on – essentially putting good outcomes for our clients at the heart of what we do.

This approach has been the fundamental driver of the growth of our business since it was founded in 1988. We have built our business by the word-of-mouth recommendation of our clients and we continue to strive to live up to your expectations.

As part of that process, and long overdue, we will be sending you a client satisfaction questionnaire which we have prepared on Survey Monkey. This will give you an opportunity to air your thoughts about how we go about our business and the service you receive. Your feedback and comments are incredibly valuable to us as we can use this to measure how we are doing and how we move forward and drive improvements – after all, if you are not moving forward, you are standing still (or going backwards!). Anyway, that’s what I find with my guitar practice!

To encourage responses and to recognise your contribution, for each client who completes a survey, we will be making a £10 donation to charity. Junior members of the CAM team are currently identifying 2 charities that embody our culture and values. Full details will appear in the survey. There will also be a prize draw of all client entrants and the lucky winner will receive a luxury Fortnum & Mason hamper.

The survey should be with you in mid- October.