meta_id 3150199

On May 13, 2026, the Financial Conduct Authority (FCA) announced it is reviewing how consumer investment firms support bereaved customers and whether they are meeting customer needs adequately. According to FCA research, fewer than half of bereaved customers (47 percent) felt they received the support they needed from financial firms. The review will focus on firms that advise, manage, or administer investments, including platforms, advisers and wealth managers. The FCA will examine the customer experience from the moment a firm is notified of a bereavement through to settlement or transfer of investments. The review will assess how firms communicate with bereaved customers, how they support vulnerable customers, their service standards, and how fees are handled on bereaved accounts. Kate Tuckley, head of department, consumer investments at the FCA, stated that firms should design bereavement processes "with people, not paperwork, at their centre" and that these processes are "a real test of a firm's culture and key to consumer trust." This review follows similar FCA examinations in retail banking and insurance, where the FCA found bereaved customers regularly faced unclear processes, repeated information requests and avoidable delays, although good practice existed but was not consistent. From May 2026, the FCA will contact selected firms as part of the review. The FCA will publish its findings later in 2026, highlighting good practice and areas for improvement. This review is a priority under the FCA's Consumer Investments Regulatory Priorities and forms part of its broader consumer duty work.