When is an adviser a manufacturer?
Consumer Duty frequently makes reference to ‘advisers’ and ‘manufacturers’– implying for many that there is a difference in responsibility between these. After all – advisers advise, and manufacturers create products. However, in this episode of Duty Calls, Tony Crane and Andrew Gething explore how – under the Consumer Duty – advice firms are classified as manufacturers (because the FCA’s definition includes a firm’s advice service making it a manufacturer of the services the firm provides). Additionally, advice firms can be classified as product manufacturers – find out why.
