Boring Money is helping advice firms, platforms, and asset managers to plan and create better customer outcomes. With over 5 years’ experience in understanding and tabling the customer voice, we can help with data and insights on both consumers in general and your more specific customer base.

Need help responding to the new Consumer Duty?

Here are 5 ways we can support:

1. Test client communications against Consumer Duty

Consumer Duty requires firms to test their communications with end clients / the target market consumer, to ensure that consumers are able to: find information; comprehend the information; and that the information provided supports them to make good decisions that inform the right action for their investment objectives.

We have extensive experience of working with clients to test that their communications support good outcomes. We have tested hundreds of client-facing comms, including investment documents, brochures, web pages and journeys.

Comms Testing to assess against Consumer Duty

2. Evidence value, and benchmark against your competitors

We’ve been supporting asset managers to track and benchmark value to support the AoV process since 2019. We speak to 6,000 fund investors each year, collecting and reporting back ratings for 30 of the largest UK and international asset management brands.

Talk to us about Retail Investor Analytics

3. Identify and understand your target market

We have 7 years of consumer/investor data and can use our data to provide quick, reliable input into documenting and understanding your target market.

1. Identify the demographic and financial profile of your target market

2. Understand if your products are appropriate for your target market

3. Understand what good outcomes look like for your audience

4. Size the proportion of vulnerable investors within your target market and identify specific needs

Talk to us about Retail Investor Targets

4. Ensure a reasonable relationship between price, benefits and value

We can provide an independent benchmark of your costs against industry average and map both a consumer and our independent view of the benefits. How do the costs and benefits come together to represent value?

5. Client communities

Building client communities is an excellent strategy for placing customers at the center of your business, aligning with the principles of Consumer Duty. This approach involves creating an ‘always-on’ panel of your end clients. Businesses use these panels to conduct communication testing, gather client feedback on various topics through ad hoc research, test product propositions and content, and gauge client sentiment.