Over one in three financial services firms (36%) have been penalised at least once in the past 12 months for failing to meet regulatory requirements, according to a new report.

More than two in five advisers (43%) changed their client servicing approach as a direct result of the FCA's Consumer Duty introduced in July last year, according to a new study.

With so many other challenges facing the wealth management sector, from legacy technology to developing compelling products and services, why are firms turning their attention to complaints?, writes Kate Monserrate, co-founder of advice and wealth management business consultancy Simplify Consulting.

New research suggests that the advice gap may have widened since the FCA’s Consumer Duty requirements arrived nearly a year ago.