Commenting on the FCA’s decision to delay the deadline for Investment Pathways, Paul Waters, Head of Strategic Digital Solutions, Hymans Robertson, says:

“The FCA’s decision to delay the deadline for the introduction of Investment Pathways by six months is sensible given that many providers are adjusting to, and dealing with, many new issues due to the disruption from COVID-19.  It will be far better for consumer if the launch is at time that enables providers to put in place strong systems and products as they offer the pathways.  Otherwise, there will be a rush to meet the deadline and they will simply deliver a very basic product to ensure compliance.  The delay will give providers time to really strengthen the investment proposition that sits behind each pathway.  It will also give them the breathing space to set up a robust digital user experience with clear features to help their customers understand the approach they are taking and what it means to them. There is still considerable work to be done to ensure both of these element.   Six months is a modest extension of time and will ensure providers can set up efficient and easy ways for customers to engage with by the new deadline.”