FCA Launches Review of Bereavement Support Standards at Investment Firms | LeapRate | Online Trading Industry News, Broker Intelligence & Fintech Analysis

The Financial Conduct Authority (FCA) has announced a review into how consumer investment firms handle bereaved customers, examining whether current practices meet the standards expected under the Consumer Duty. The review was launched on 13 May 2026.

The FCA will assess the full bereavement journey at investment platforms, financial advisers and wealth managers, from the point at which a firm is first notified of a death through to the settlement or transfer of the deceased’s investments. Specific areas under review include how firms communicate with bereaved customers, how they identify and support those in vulnerable circumstances, the service standards applied to bereaved accounts, and how fees are handled during the bereavement period. The review follows similar work the FCA has previously conducted in retail banking and insurance, where it found inconsistent practices, repeated information requests and avoidable delays were common. FCA research cited in the announcement found that fewer than half of bereaved customers, 47%, felt they received adequate support from their financial provider.

The review is in scope for firms that advise on, manage, or administer retail investments. That covers a wide range of authorised firms: investment platforms, discretionary fund managers, financial advice firms and wealth managers holding or administering assets on behalf of retail clients. There is no cross-border dimension to this particular review; it applies to FCA-authorised firms operating in the UK consumer investments market. The FCA may write to selected firms from May 2026 requesting information as part of its evidence-gathering.

The FCA intends to publish its findings later in 2026, setting out examples of good practice and areas requiring improvement. The review sits within the regulator’s Consumer Investments Regulatory Priorities and is part of its ongoing Consumer Duty supervisory programme. Firms in scope should expect to demonstrate that their bereavement processes are designed to deliver good customer outcomes and not merely procedural compliance. The FCA’s press release is available on fca.org.uk.