The Income Protection Task Force (IPTF) has joined the Consumer Duty Alliance as an affiliate member.
The CDA, which incorporates the financial vulnerability taskforce, aims to help the personal finance sector successfully implement the FCA’s Consumer Duty by coordinating, sharing and promoting understanding and good Consumer Duty practice for the benefit of the wider market.
The alliance sees the two organisations work together to produce relevant content for financial advisers in the protection sector.
That content will focus on Consumer Duty requirements and how discussions around income protection can give support and help clients to become more financially resilient.
Vicky Churcher, co-chairperson of the IPTF, (pictured) said: “The values and objectives of the IPTF and the Consumer Duty Alliance are closely aligned with us both being focused on improving consumer outcomes and financial resilience in the population.
“We’re looking forward to working alongside a like-minded organisation to ultimately highlight the value that great financial advice can add for customers.”
Tony Miles, secretariat of the Consumer Duty Alliance, added: “We’re delighted to welcome the Income Protection Task Force as an affiliate member of the growing Alliance.
“Whilst the current cost of living crisis shines an inevitable light on price, it also underlines the importance that more consumers appreciate the value and benefits of protection products to their long-term financial wellbeing.
“We look forward to working with the IPTF to help grow the Alliance’s footprint across the protection sector and in turn promote the good work the IPTF is doing working with their members in sharing good practice and delivering good outcomes for clients”
The IPTF added it will share details about its work with the Consumer Duty Alliance via their LinkedIn page and in their email newsletters.