The Personal Finance Society (PFS), a professional body for Financial Planners, has launched a new competency diagnostic tool to help firms identify training opportunities relating to Consumer Duty knowledge gaps.

Over 10,000 financial adverts and other promotions were withdrawn or changed last year following intervention from the FCA.

Data and research provider Defaqto - which provides Engage Financial Planning software - has launched a pilot for new Consumer Duty Profiles for selected product providers in the personal pension, SIPP and adviser platform spaces.

Financial advisers find ‘consumer support’ the most challenging Consumer Duty requirement, according to new research from Abrdn.