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Consumer Duty: Consumer Understanding, Financial Promotions and Communications

11 August 2022

This is the third article in the Consumer Duty wealth management sub-series. This article focusses on financial promotions and communications.

Central to a firm's ability to deliver good outcomes under the new Consumer Principle is the way in which a firm communicates with its intended target market, as well as its existing customers. Firms must develop a conscious strategy in their communications, including through approval/communication of financial promotions, pre and post-sale disclosures and business as usual communications. The Consumer Understanding outcome helps set the FCA's expectations and provides examples to help firms think about how they should approach communications with potential or current clients (and retail investors more generally even if not a direct client). 

Our latest article discusses some of the key types of correspondence and provides wealth management examples to help firms understand, in practice, some of the relevant considerations as part of the communication stream of their Consumer Duty project.

Download the article here

If you require any advice or support in the implementation of your plans with regards to the Consumer Duty please reach out to a member of our team. 

Have you read our previous articles providing an overview of the required risk analysis and our recommendations of how to assess outcomes when implementing the Consumer Duty in your organisation? Visit the hub here.


Further Reading