Prompted by the introduction of the Consumer Duty in July 2023, advice firms will face closer scrutiny from the Financial Conduct Authority (FCA) about the ongoing service they are providing in return for the charges they are making. Since the Retail Distribution Review in 2012, financial advisers are only allowed to charge customers an ongoing advice charge if they provide an ongoing service. In February 2024, the FCA commenced a survey seeking information on this from a range of firms. The FCA also raised concerns about the issue when it published its thematic review on retirement income advice in March 2024 and again in its Dear CEO letter in October 2024. In response to this increased scrutiny, and in the face of high levels of claims management company activity in the area, firms are having to consider how to approach ongoing charging in the future and also whether their approach was justifiable in the past. The likely result is going to be reviews of past business and claims seeking repayment of charges.