Media comment: FCA Smarter Consumer Communications paper

Thursday 25 June 2015

In response to the FCA’s paper on Smarter Consumer Communications, Caroline Rookes, Chief Executive for the Money Advice Service comments:

“Having a good understanding of financial information is the key to ensuring that consumers are empowered to make the right decisions about their money. This paper highlights some great examples of clear and effective communication used by firms, demonstrating that the industry is evolving its approach. Despite this, we all need to refresh the way we do things to ensure that information is reaching consumers in the most effective way possible so that they can get the most out of their money.

“We want to take on this challenge and through the development of a financial capability strategy for the UK, we are stepping up our work with industry and advice organisations to build on the FCA’s work. Our priority is to make it easier for consumers to access financial products and services, and clear consumer communications is a key part of this.”

-ENDS-

For more information, please contact Pressoffice@moneyadviceservice.org.uk

NOTES TO EDITORS:

About the Money Advice Service

The Money Advice Service is an independent organisation. It gives free, unbiased money advice online at moneyadviceservice.org.uk, over the phone on 0300 500 5000, and face-to-face right across the UK. The Service was set up by Government and is paid for by a statutory levy on the financial services industry, raised through the Financial Conduct Authority. Its statutory objectives are to enhance the understanding and knowledge of members of the public about financial matters (including the UK financial system); and to enhance the ability of members of the public to manage their own financial affairs.