Good consumer understanding is vital. Giving consumers the information they need, at the right time, and presented in a way they can understand is the bedrock to helping them make better financial decisions, and ultimately achieve a more stable and prosperous financial life.
Firms embedding the consumer duty into their activity is only half the story. To truly get ground-breaking change, the rule-makers also need to walk the walk, and fully adopt these principles.
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Rachel Vahey is head of policy development at AJ Bell
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