How can firms improve client engagement with wealth products?

Over the years, the wealth management industry has been hindered by excessive regulation. It has resulted in wealth providers often overcomplicating their product offerings with lengthy disclosures, technical correspondence, and ambiguous marketing materials. These are barriers to investing and create unnecessary confusion, deterring consumers rather than empowering them. While customer-facing documentation has improved since the introduction of Consumer Duty, there is still scope to enhance consumer understanding. The Financial Conduct Authority (FCA) acknowledged this during its ...