The Assessments of Value have been a huge undertaking for asset managers. With deliberately vague criteria, the FCA has intentionally put the onus on managers to think about what value is – and how to articulate, check & evidence it.

“The landscape for asset managers is changing faster and in different ways than ever before, with challenges on many fronts. In particular enhanced regulatory requirements resulting from the Asset Management Market Study is putting the customer at the front and centre of key decision making in providers. Access to the customer thinking will be key to informed decision making.

"Boring Money are carving out a significant position in this space, providing us with insights on customer thoughts relating to value, communication, price, asset allocation and desired outcomes. Whilst we could obtain some of these insights ourselves, it is more economic for us to do it through Boring Money, and also gives us access to a broader customer group. A number of other providers have no access to direct customer thinking given the heavy shift towards intermediary distribution in recent years. I have no doubt that as the trend continues , Boring Money, as a customer champion, will be seen as providing more and more independent customer insights to senior decision makers at asset managers.”

Phil Wagstaff | Global Head of Distribution, Jupiter

Price for full report: £8,000 + VAT


This report has been created to help asset managers to produce, review and improve their Value Assessment statements, and to:

  • Think about value from the perspective of their customers.
  • Understand what it is that investors value
  • Understand how investors value different asset management brands and why
  • See how firms have approached the publication of Value Assessments to date.
  • Access an independent perspective of Best Practice and Poor Practice.
  • Consider how to improve their own Value Assessment reports.

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Insights include

  • How is Value reported currently?
  • What is the investor perspective on Value?
  • How does Value play out on a brand level?
  • What good and bad practice should we be aware of going forward?


Research sources

  • Quarterly online survey spanning Q1 2019 - Q1 2020
  • Close to 9,000 detailed responses from UK fund investors
  • Insights from fund investors with: a Personal Pension, SIPP, S&S ISA or GIA




What is Value? – The Investor Perspective

How do end customers assess value? How do customers assess price and performance? How do investors perceive fund information and how well do they understand factsheets? What do investors think about service?

How does Value play out on a brand level?

This section deals with consumer research on Value by individual brand. What are the top valued brands – who and why? We examine the trust and performance of Passive vs. Active; advised vs. non-advised; big brand investors vs. small brand investors. This section also covers the impact of COVID-19 on the market and ESG considerations.

How is Value reported? – The Component Parts

What does the FCA want, and what do consumers want? What should be included in the reports? How do firms approach their reporting differently and what are some interesting examples?

How is Value reported? – The Structure

We delve into the key details of the seven FCA components, and compare the Annual Report vs. the Standalone. We cover questions such as; should there be a firm level overview as well as individual fund review?

Good Practice – The 10 Commandments

What is current best practice? How should the industry approach consumer questions? What are the best ways to ensure good design and clarity? How can you improve presentation of performance and costs? What are the best ways to address the components of value?

Poor Practice – The 10 Cardinal Sins

What does poor practice look like? What should be avoided? How can you successfully include Value Assessments in the Annual Report? Which UX considerations should you bear in mind when digitising reports? How can you best utilise the FCA’s seven criteria and external evidence?

  Investor Value Rankings Q320

For more information on how we can support you with investor insights on an ongoing basis to inform the Quality of Service pillar, please have a look at our Investor Tracker product

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