Hosted by Graeme Stewart, head of consultancy at Paradigm, the video looks at the price and value aspect of the incoming rules.
Stewart appears with Richard Howes, director of mortgages and Mike Allison, director of protection, to encourage firms to consider practices which could make them more compliant.
This includes whether the firm has looked at all the factors and data as part of its fair value assessment and if sufficient information has been obtained from firms in the distribution chain.
It also asks firms to demonstrate whether their products and services are fair value for different groups of consumers, and if the pricing differs for different consumer groups.
The webinar is available to view at Paradigm’s Consumer Duty Support hub – www.paradigm.co.uk/services/consumer-duty-support
Stewart said: “I think it’s fair to say that the ‘Price and Value’ outcome of the FCA’s Consumer Duty rules is one of the more challenging aspects for advisory firms, and the feedback we have received is that they would like further information and guidance in this area.
“This is why we have specifically dedicated this ‘Paradigm on Film’ webinar to this topic, covering off potential answers and solutions to the key questions the regulator has asked firms to ask themselves.”
He continued: “This is all part of a package of Consumer Duty resource and support, not just available to our member firms, but accessible to all businesses active in our market and who will need to meet the rules.
“The countdown towards the implementation data, at the tail end of July, continues and Paradigm will continue to help firms put in place what they need to meet these new rules.”
