CONSUMER DUTY

FINANCIAL CONDUCT AUTHORITY

The FCA is pushing for better and continuing communication between advisers and clients as part of the Consumer Duty

Clients Advisers Recommendations

Advisers believe the way they communicate with clients will be the biggest change to come:

• Less than half of consumers fully understood any of the communication they received from advisers

• 88% of consumers read communications about their investment performance

• 83% of consumers read communications about product details and fund factsheets

The three areas advisers expect to change most are how they:

• Communicate with clients (34%)

• Assess the value of advice (33%)

• Segment their client base and service offerings (28%)

Recommendations from Aegon:

• Review all client communications and see where you can work to write them in plain English as much as possible

• Consider working with an external content provider to help with the messaging and putting information in a clearer and more concise way

WE NAMED OUR FIRM “EXT.”

BECAUSE WE ACT AS AN “EXTENSION” OF YOUR TEAM.