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2024 Financial Adviser Survey: Accelerating through change

Key insights on how financial advisers are responding to regulatory and technological change to enhance outcomes for their clients.

Executive Summary

The past year marked a major regulatory milestone for financial advisers. On 31 July 2023, the Financial Conduct Authority (FCA) introduced its new Consumer Duty, with far-reaching implications for advisers and their clients. Meanwhile, the launch of ChatGPT and other large language models (LLMs) opened the door to efficiencies and disruptions across a vast swathe of industries. Financial advice is no exception. 

For advisers, the implementation of the Consumer Duty has been the biggest event since the Covid-19 pandemic. It is prompting consolidation in the market; changing working practices and the application of technology; and driving efforts to find efficiencies and improve the experience of clients. 

This year’s survey covers:

  • How advisers are adapting their service propositions to meet the Consumer Duty regulations
  • The impact of Consumer Duty on client outcomes
  • The role of technology and AI in a world of increased regulation
  • Client interaction and communication
  • The evolution of outsourced investment solutions and custom MPS

Our survey reveals that encouragingly, clients continue to value human interaction, and advisers are looking to utilise AI and other technologies to inform these interactions and ensure that good client outcomes and greater personalisation of solutions and services are achieved.

Accelerating Through Change

Download our 2024 Financial Adviser Survey now