Consumer duty

We provide specialist support, helping IFAs meet the Consumer Duty and Product Governance (PROD) rules.

Our award-winning team of experienced paraplanners write reports using simple terms and a conversational tone, so they’re easy for your clients to read and understand. Our reports are layered, so your clients can choose how much detail they want.

We also act as a sounding board for advisers and planners, so you can discuss your advice with us, before deciding on the best plan to meet your clients’ needs and objectives. Our approach is based on FCA guidance from policy statement PS22/9 and Final Guidance FG22/5. We also work with external compliance consultants who help to guide our approach.

What we offer

Whether you’re looking for product research to match a target market, due diligence to check under the bonnet, or analysis of your clients’ current plans, our team has the technical knowledge and experience to help you.

Our cost/benefit analysis for replacement business will help you avoid foreseeable harms. Crystal clear reports will help make sure your clients really understand your recommendations before they go ahead. We can even include a short questionnaire, to evidence their understanding or highlight where further discussions might be needed.

We can construct financial plans to help your clients pursue their financial objectives. And if we see any aspect of your processes which perhaps need a tweak, we’ll talk to you about it. We’ve got 
your back.

The Suitability Reports we provide are broken down into small sections, clearly explaining how each recommendation meets the clients’ need and objectives. Based on their specific circumstances, we’ll demonstrate that you’ve put their best interests first.

Don’t forget, under Consumer Duty, you need to do Due Diligence on the firms providing support services to you. We have a detailed Due Diligence document which will answer all the questions you need to be asking.

Case Study

Consumer Duty questionnaire

One of advisers approached us about putting together a series of questions that could be used to find out whether clients had understood the content of the report. We designed a short questionnaire to record the client’s understanding of what was being recommended and why, along with the associated costs and risks.

The Argonaut Approach

We provide outsourced paraplanning services with a strong focus on Consumer Duty from end to end.

Need help with Consumer Duty and Product Governance? 
Give us a call or pop us a message.