TISA - Tax Incentivised Savings Association - Council

Consumer Engagement Policy Council

Consumer Engagement Policy Council

I am pleased to announce that we are establishing a new council the Consumer Engagement Policy Council based on the merger of our existing Distribution and Wrap & Platform councils.

It has become increasingly clear that the issues facing this sector in the future are broad ones that affect both distribution and platforms. Our on-going policy development and thought leadership therefore needs to consider and respond to these issues in a way that isnt limited by a sector-based approach.

By combining the best of both our distribution and platform work into this new council, TISA, and our members, will be better able to focus on the key issues around consumer access and engagement. There are a number of common themes to be tackled, including the impact of MiFID II, legacy IT and re-platforming costs, the effect of regulation and consumer expectations along the value chain, and the development of automated advice capabilities. These are matters that will need ongoing consideration and engagement against a background demographic change, longevity and its impact on funds and decumulation solutions.

I am delighted that David Moffat and Kate Webber have agreed to help establish the new Council as interim Chair and Deputy Chair respectively. We are now inviting members to join the Council. If you feel that you can make a valuable contribution to the Councils work focused on the interests of consumers in a rapidly changing environment, then please do get in touch. Please contact stephen.gay@tisa.uk.com in the first instance for an informal discussion.

One of the first tasks of the new Council will be to agree a manifesto, policy objectives and terms of reference for the year. Well issue a further update on this after the first meeting on March 2nd.

Both the Distribution and the Wrap & Platform councils have done sterling work over the years helping to inform and lead in a number of critical industry areas including, most recently, guidance and advice within the Financial Advice Market Review (FAMR); automated advice; transparency; costs and charging; smarter communications; regulation; tax changes and fractional shares. None of this would be possible without the expert insight, commitment and enthusiasm from the members of each council. On behalf of TISA I thank all those involved.

Our new Council, coupled with the other improvements underway to finetune the framework for the development of TISAs strategic thought leadership, policy creation and solution generation to operational/infrastructure concerns are re-invigorating our approach and work. This is helping us to ensure that our efforts are coordinated and avoid duplication. But more importantly, it is ensuring that we are best placed to meet the needs of our members and to add value to your membership.

We value your input, so please do not hesitate to contact me if you would like to discuss any aspect of our approach to policy development.

David Dalton-Brown