Through its smarter consumer communications initiative, the FCA is calling for firms to adopt innovative techniques to give investors useful information in a convenient format.
This is an area that platforms must start taking more seriously, as the provision of consumer-friendly fund and portfolio data is still their main failing.
Having already disrupted the fund market and created huge efficiencies between fund houses, advisers and investors, platforms are well placed to embrace digital solutions and spearhead the FCA’s smarter communications revolution.
This list of potential consumer improvements is long and platforms must start to prioritise these according to the needs of their customers and then begin to implement them, sooner rather than later.
Majid Shabir is founder and chief executive of Instinct Studios
