Addressing wealth management pricing challenges in the Consumer Duty era

Consumer Duty brings a new focus to pricing within UK wealth management with organisations now required to ensure and evidence fair value in pricing. In this article, we analyse the current Consumer Duty landscape, the new pricing challenges it brings, and how Simon Kucher’s PricePro Run solution can streamline your on-going compliance, enhance pricing transparency, and protect profitability.

Key takeaways

• Pricing within the wealth management industry is complex and relationship-based. It can be tricky to track and manage without adequate systems and controls.
• Consumer Duty has raised the bar on price management within the sector. Wealth managers need to respond to the challenge and up their game to continue to thrive.
• Simon-Kucher’s PricePro Run is the gold-standard price management solution within the wealth management industry. It can help to address these challenges, ensuring price-value alignment and regulatory…