The Financial Conduct Authority has launched a supervisory review into whether consumer investment firms are adequately supporting bereaved customers. It will examine firms that advise, manage or administer investments, including platforms, advisers and wealth managers, and assess the customer journey from the point a firm is notified of a bereavement through to settlement or transfer of investments. The review will look at firms' communications, support for vulnerable customers, service standards and the handling of fees on bereaved accounts. The FCA linked the work to research showing that 47% of bereaved customers felt they received the support they needed from financial firms. It also follows earlier FCA reviews in retail banking and insurance, which found unclear processes, repeated information requests and avoidable delays, alongside examples of good practice that were not applied consistently. From May 2026, the FCA will contact selected firms as part of the review. It plans to publish its findings later in 2026, setting out good practice and areas for improvement.
Financial Conduct Authority 2026-05-13
United Kingdom Financial Conduct Authority launches review of investment firms' support for bereaved customers
The Financial Conduct Authority has launched a supervisory review into how consumer investment firms support bereaved customers, covering advisers, platforms, wealth managers and other firms that manage or administer investments. The review will assess the end-to-end customer journey, including communications, treatment of vulnerable customers, service standards and fee handling, and will draw on findings from previous retail banking and insurance reviews highlighting unclear processes, repeated information requests and avoidable delays.