Consumer Duty Two Years On: Turning Compliance into a Growth Strategy for Financial Advisers
Two years after the Financial Conduct Authority’s Consumer Duty came into effect in July 2023, its impact on UK financial advisers has moved beyond initial compliance. The challenge now is embedding Consumer Duty principles into every aspect of business operations—and using them to drive growth and competitive advantage.
For financial advisers seeking to attract new clients and build stronger professional relationships, Consumer Duty presents both regulatory obligations and strategic opportunities. By aligning with its principles, firms can ensure compliance whilst differentiating themselves in an increasingly competitive marketplace.
Why Consumer Duty Matters for Your Marketing Strategy
The FCA’s December 2024 review of annual Consumer Duty reports highlighted firms that successfully incorporated the duty into their business strategy and purpose, specifically welcoming those that demonstrated a positive “tone from the top”. The removal of the Consumer Duty champion requirement in February 2025 reinforced that accountability lies with boards and senior management, making good client outcomes central to firm culture and strategy.
This regulatory shift creates a clear marketing opportunity: firms that can demonstrate their Consumer Duty credentials will stand out to both prospective clients and professional referral partners.
The Four Outcomes as Your Differentiation Framework
Consumer Duty requires firms to prove they deliver consistent positive results across four key outcomes. Rather than viewing these as compliance hurdles, forward-thinking advisers can use them as a framework for business differentiation:
Consumer Understanding
Simplifying communications and tailoring explanations builds trust and empowers clients. This transparency enhances your reputation and encourages referrals from both clients and professional partners. Consider how your client communication strategy reflects these principles in every touchpoint.
Price and Value
Demonstrating fair pricing and clear value propositions strengthens credibility, particularly with solicitors and accountants who may refer clients. Your ability to articulate value becomes a cornerstone of your brand positioning.
Consumer Support
Providing seamless, proactive support reinforces client loyalty, increasing retention and long-term profitability. Strong support systems are essential to your client experience strategy.
Products and Services
Designing and reviewing services to meet evolving needs ensures relevance, positioning your firm as forward-thinking and responsive to market changes.
Practical Implementation: From Policy to Practice
Embedding Consumer Duty requires more than policy documents. The FCA expects firms to set clear internal values under each outcome, ensuring business-wide cultural alignment. Practical steps include:
Training and Cultural Alignment Regular training refreshes, incorporating real-life case studies, help teams understand how Consumer Duty principles apply in daily practice. This reinforces the ’tone from the top’ that regulators look for.
Technology and Evidence Gathering Client feedback tools, management information systems, and digital platforms provide valuable insights into client outcomes. These tools can highlight opportunities to improve the client experience, making your firm more attractive to prospects.
Continuous Review Consumer Duty is not a one-off project. Firms must continuously review practices, refresh training, and gather evidence of client outcomes. The FCA has made clear that expectations will rise over time.
Consumer Duty as Your Competitive Advantage
Once compliance is embedded, the real benefit lies in turning it into competitive advantage. Advisers who can clearly demonstrate how their firm consistently delivers positive client outcomes will find it easier to build trust with prospects and professional partners.
For example:
- Solicitors and accountants are more likely to refer clients to advisers who can evidence transparency, fair value, and strong support systems
- A visible commitment to Consumer Duty enhances brand reputation, creating thought leadership opportunities through articles, events, and partnerships
- Consumer Duty provides a shared language of responsibility and transparency that strengthens professional relationships
Integrating Consumer Duty into Your Marketing
The opportunity is to turn regulation into reputation. By building communication strategies that highlight how Consumer Duty principles inform daily practice, advisers can demonstrate leadership and build a compelling brand story that resonates with clients and professional partners.
Content Marketing Opportunities Create content that demonstrates your Consumer Duty commitment:
- Client education materials that exemplify clear communication
- Case studies showing positive client outcomes
- Thought leadership articles on regulatory best practice
Professional Networking Use Consumer Duty credentials to strengthen referral partnerships:
- Demonstrate compliance in networking conversations with solicitors and accountants
- Develop joint initiatives that showcase your commitment to client outcomes
- Create co-branded educational content with referral partners
Digital Presence Ensure your online presence reflects Consumer Duty principles:
- Website messaging that emphasises transparency and value
- Client feedback testimonials demonstrating positive outcomes
- Social media content showcasing your client-centric approach
The Path Forward
Consumer Duty is more than a regulatory requirement—it’s a foundation for growth, differentiation, and trust. Advisers who view it purely as a compliance burden risk missing its wider potential. Those who embrace it as a framework for client-centric business will find themselves better positioned to grow, attract referrals, and build long-lasting brands.
Whether through content marketing, partnerships with solicitors and accountants, or client education initiatives, advisers who align with Consumer Duty can grow their influence and demonstrate market leadership.
At Aspina, we help financial advisers transform regulatory challenges like Consumer Duty into opportunities for growth. By embedding these principles into marketing strategies, communications, and client engagement approaches, advisers can stand out as leaders in their field—delivering value to clients whilst securing their own success.
The competitive advantage is there for those prepared to fully embrace Consumer Duty’s principles and demonstrate them consistently. The question is: will you seize it?
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