Consumer Duty
Three practical tips for improving client communications
3 min read 12 May 26
The information contained in this page is for UK Financial Advice Professionals only. If you are a private investor, please visit the Private Investor section or contact your Financial Adviser for more information.
Renowned author George Orwell had a few golden rules when it came to writing, including never using a long word “where a short one will do”, cutting out extra words wherever possible and never using a “jargon word” if an everyday English equivalent can be found.
Orwell was obviously a fan of clear communications and, here in financial services, a similar sentiment lies at the heart of one of the Consumer Duty’s four key pillars – ‘Consumer Understanding’.
Three simple changes
But all too often in our industry we still see pages and pages of T&Cs in tiny print or lengthy, jargon-heavy literature. That’s why at M&G Wealth Platform we’ve been implementing a programme of improvements, supported by customer insight studies, to make our literature, communications, forms and applications work as hard as possible for the clients who use them.
For advisers who may also want to sense-check their own approach to customer communications, this article shares a few practical prompts that our team have found particularly helpful along the way.
1
Clearer support for customers during difficult times
Advisers and providers are there to support clients during some of the best moments in their lives but also some of the hardest too. How we communicate with clients at these times really matters, especially when they may be increasingly vulnerable.
Navigating a bereavement, for example, is also where financial planning can become particularly complex for clients, alongside the emotional weight and family dynamics they may be handling at the same time.
At times like these, clients are often faced with multiple forms and documents. A brief explanation right at the top, setting out who the document is intended for and how it should be used, can really help make things easier.
2
Understand the benefit - not just the terminology
It’s all too easy for complex terms and jargon to creep into the way we speak and write for clients. And the Consumer Duty rules mean it’s no longer enough for a client to just be made aware of the terminology, they must understand it fully.
Our approach to jargon busting
We opted to create a standalone Jargon Buster page on the M&G Wealth Platform website to help customers make sense of the financial terms they regularly encounter when managing their investments. But introducing something similar on a smaller scale can also work well in almost any client communication or document.
Giving dedicated space to explaining jargon provides a single and easy-to-navigate reference point not only for clarifying complex terms but also communicating the benefit to customers. This can be particularly helpful for vulnerable customers who may struggle with industry terminology or are applying through a manual process.
3
Different channels, same experience
The move away from paper towards digital applications, documents and processes will benefit most customers but for some – especially those experiencing vulnerability – paper may still be best.
Paper client applications
While the online journey remains the primary and preferred route for new business, the updates we have made to our paper Client Application Form are designed to provide a cleaner, more intuitive alternative when customers genuinely can’t apply digitally.
The key here is making sure that the paper-based experience is well aligned with the online journey, using things like consistent language and simplifying the sequencing of information for customers. This means that the guidance can remain clear regardless of whether a client chooses to use the online or paper channel.
Other quick fixes
There are a number of small changes you can make to your communications which, although simple, can go a long way.
Here are some examples from recent improvements we’ve been making:
- We’ve found that simple visual cues – such as clear section headers, call-out boxes and example screenshots – can help customers quickly understand what a document is asking them to do, particularly in longer forms or guidance pages.
- Across forms and applications, we’ve focused on breaking complex tasks into clear, step-by-step stages – explaining what’s needed at each point and what will happen next – so customers feel more confident before they begin.
- We’ve also looked at how and where customers access key documents, using clearer signposting and consistent naming so information is easier to find when it’s needed – whether a client is applying online or working through paperwork with their adviser.