Communications - what, when and have they been tested?

High quality communications help individuals to maintain confidence during times of stress and provides important context in making key decisions alongside their adviser – including, for example, aspects such as the impact of inflation on their plans, the timing of retirement, or the implications of withdrawing or adding to investments. The Duty makes it clear that providers and advisers should reflect on and account for behavioural aspects when interacting with clients.

The demand of investment managers and providers here should be two-fold. Firstly, clear documentation should outline what communications will be delivered as part of the MPS service (and with what frequency). Secondly, and just as importantly, MPS provider should be working with you to evidence that its communications are appropriate for retail end client consumption. This should account for aspects as simple as whether the content is written in ‘plain English’ and is sufficiently jargon free. It also needs to be tested for application and relevance. All too often in the past, providers have delivered broad topical or technical market analysis, from which it is very hard to draw out the ‘so what’ impact for individuals’ portfolios.

Read our full CIP checklist below.

Read here