"However, the FCA does not appear to want to address this in the new Consumer Duty but I can still hope they recognise the need to deliver less regulatory sludge for customers and kick off a separate exercise to address where there is duplication and confusion.
"Undoubtedly this will help the FCA achieve their own goal in Consumer Duty of better understanding and engagement across the board."
Additionally, Dyer said 2021 saw clients take a greater interest in estate planning, updating wills, getting trusts in place with an increase in gifting also very prevalent.
“In a strange way the pandemic will have helped many people with their financial planning,” he said.
“For some the unexpected did happen and as a result it has made many consider their financial circumstances perhaps sooner than they thought they needed to. It’s been a great opportunity for us to help clients in sometimes difficult situations.”
He added: “I’m not sure we’ll ever see another year like 2021, there’s been some good, and some bad, we’ll never forget it."
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