Financial adviser firms have, on average, completed 75% of their Consumer Duty transformation changes, according to a new survey.

The Consumer Duty Alliance, the not-for-profit industry group supporting advisers with their Duty commitments, has called for the FCA to issue more sector-specific guidance on vulnerability.

The FCA’s head of supervision Nick Hulme will lead a Consumer Duty Alliance event this autumn aimed at highlighting the problems faced by smaller advice firms.