Consumer Duty: I'm a Platform
Supporting investment platforms with external input, metrics, validation and customer testing.
Boring Money is helping advice firms, platforms, and asset managers to plan and create better customer outcomes. With over 5 years’ experience in understanding and tabling the customer voice, we can help with data and insights on both consumers in general and your more specific customer base.
Need help responding to the new Consumer Duty?
Here are 3 ways we can support:
1. Test client communications
We are working with several clients to test that their communications support good outcomes. Consumer duty requires firms to test their communications with customers, in order to ensure that consumers are able to: find information, comprehend the information, and that the information provided supports them to make good decisions that inform the right action for their investment objectives.
2. Track and benchmark value
Our tracker products help you to understand and measure the value you provide to clients and benchmark this against competitors, to provide independent metrics and input into your frameworks.
You can explore this in more detail here:
3. Client segmentation and bespoke research
We have 5 years’+ of consumer / investor data and can map our quantitative data and qualitative insights to your selected customer segments, providing quick, reliable input into documenting and understanding your target market.
Ensure a reasonable relationship between price, benefits and value
We can provide an independent benchmark of your costs against industry average and map both a consumer and our independent view of the benefits. How do the costs and benefits come together to represent value?
Understand your target market
What do your customers prioritise and value?
Are your products the right fit for your target market?
What do good outcomes look like for your audience?
How are you looking after vulnerable customers?