PIMFA
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One of the most challenging outcomes of the Consumer Duty for firms to meet is that of fair price and value. In the opinion of the FCA, “many of the fair value assessments we [FCA] have seen do not rely on solid data and other credible evidence to justify the products’ value to retail customers. [Sheldon Mills quote Feb 2024]
The regulator’s information request to 20 of the largest firms asking about their delivery of ongoing advice services highlights the need for PIMFA members to test whether their value framework are fit for purpose and challenge whether they are capturing the appropriate data and metrics to evidence their products and services are delivering fair value.
In this live, tutor led online training course experts Alpha, show you how you can stay ahead of FCA expectations, identifying and addressing the regulators most recent concerns in assessing fair value and ongoing advice fees, so that you can take swift action to address any shortcomings in your approach.
By the end of this masterclass, you’ll be able to:
- Refine and improve your ongoing advice annual review process in light of recent FCA concerns.
- Confidently anticipate and respond, with evidence, to FCA questions and queries on your approach value assessments.
- Pinpoint areas of immediate improvement to fair value assessment, ensuring it is aligned with industry good practice.
- Map, with greater clarity, the critical data metrics required to identify consumer harm across different customer groups, (particularly vulnerable or potentially vulnerable customers)
- Critically assess if your firm’s ongoing services are fairly priced
Who should attend?
• Compliance heads and leaders seeking to avoid foreseeable harm by enhancing and refining their fair value framework.
• Internal auditors keen to address shortcomings in their approach who now seek a more robust, data-driven approach for assessing fair value.
• Risk leaders who want to ensure that fair value outliers can be effectively identified and rectified with appropriate accountability mechanisms.
• Consumer Duty project leads who recognise the need for improvements, want to know how leading firms use data and MI to monitor fair value on an ongoing basis.
• Consumer Duty champions seeking to ensure their fair value analysis provide the board with a sufficient understanding of outcomes received across different customer groups.
Bring you colleague along for free!
Please use coupon 7SX5YB2XÂ at checkout for 50% off 2 Tickets
If you experience any issues please email learning@pimfa.co.uk
More about Chris Martin
Chris is a Director at Alpha with more than 16 years of experience across consulting, the regulator and industry, including as an ex-Head of Compliance & MLRO.
Chris leads Alpha’s Consumer Duty proposition within the Regulatory Compliance & Risk Practice and has extensive experience in helping firms interpret and implement new and existing regulations
More about Andrew Farrimond
Andrew is a Manager at Alpha with more than five years of financial services experience, including at the Financial Conduct Authority.
Andrew has supported a number of asset and wealth management firms with the implementation and review of their Consumer Duty programmes and has practical experience of the regulators expectations and how to meet these.
Alpha Financial Markets Consulting is a leading global provider of specialist consultancy services to the financial services industry.
