We’re pleased to share our new FBC research report which explores how firms are testing and improving Consumer Understanding.
Our research explored key questions, including:
- What types of customer documents are being tested for clarity and comprehension?
- Who is involved in testing?
- How are firms conducting consumer understanding tests?
- Who oversees the results, and to what extent is the fund board involved?
- Are distributor created factsheets being tested for clarity and alignment?
- What actions have been taken in response to testing findings?
The research findings suggest that firms are conducting a significant amount of testing and taking follow-up actions; however, there are notable differences between companies, indicating areas where practices could be improved.
Thank you to everyone who took part in the research. Your contributions have been instrumental in generating valuable insights that strengthen fund board governance, ultimately benefiting both fund providers and investors.
FBC Corporate Members can access the report in the Member Portal.
