Many advice firms may be carrying part of their client book at a loss without being able to see it. CP26/10 proposes replacing the annual suitability review with periodic reviews based on clients' needs. That reads like less work. It is more.
The paper sets out why, the three options for the part of the book a firm can neither afford to serve nor wants to let go, and the two questions the Pillar study will answer: what share of the client books of participating firms costs more to serve than it generates, and how much firm time a full client review really takes.