FCA reveals ten types of consumer in bid to drive product design

Carmen Reichman
clock

The Financial Conduct Authority (FCA) has published data on how people deal with money and financial services to help providers design suitable products for their customers.

The FCA's Consumer Spotlight includes descriptions of ten consumer segments based on financial characteristics and behaviour, with a focus on the capabilities and potential vulnerabilities of different consumer groups. The regulator said it has made the data public so firms can use it to design products to suit their customers but it added there is "no obligation for anyone to use this data". The FCA said it has been using the model to build a deeper understanding of consumers' attitudes and behaviour, and what influences them when they make financial decisions. The FCA's consumer ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

PA360: FCA's Hulme - Targeted support will 'never' replace holistic financial planning

PA360: FCA's Hulme - Targeted support will 'never' replace holistic financial planning

A ‘broader stepping stone’ to fully fledged advice

Isabel Baxter
clock 01 May 2025 • 2 min read
FCA on finfluencer financial harm: 'We need people to sit up and take action'

FCA on finfluencer financial harm: 'We need people to sit up and take action'

Treasury Committee questions regulator on the impact of finfluencers

Isabel Baxter
clock 01 May 2025 • 4 min read
FCA's data reporting cuts: 'A start but fairly low hanging fruit'

FCA's data reporting cuts: 'A start but fairly low hanging fruit'

Impact is yet to be determined but a positive step, commentators say

Isabel Baxter
clock 29 April 2025 • 4 min read