Joining forces to help consumers make informed investment
decisions and to make investing inclusive, accessible and approachable to all
The government is committed to economic growth and wealth creation. Making investing inclusive, accessible and approachable helps reach under-served cohorts of consumers, setting a direct path towards greater equality, financial wellbeing and inclusive economic growth.
TISA’s mission is to improve the financial wellbeing of UK consumers by working collectively with the financial services industry. Through the work of the Disclosures Working Group, TISA’s ultimate goals are:
The Working Group helps to shape TISA’s priorities, approach and delivery to achieve better consumer disclosures and thus, consumer engagement and participation. By drawing on members’ collective insights, we aim to draw on TISA research to inform and shape policy, develop new insights and create and drive better practices and standards that improve consumer financial wellbeing.
The Disclosures Working Group has set 3 priorities and areas of focus:
The Disclosures Working Group oversees TISA work on:
Structure of Meetings
The Disclosures Working Group meets quarterly. The TISA lead in this area is Sophie Legrand-Green, Head of Policy – Consumer Protection & Access
Achievements of the Group
TISA’s latest research on Rethinking Performance Disclosures was launched at the TISA Inclusive Investing Conference 2025. This research examines the current approach to performance disclosures, the challenges they pose to consumers and tests tools and innovations that seek to improve consumer understanding, engagement and decision making. More information about TISA’s Inclusive Investing campaign is available here.
TISA has responded to the FCA’s consultations on the new pre-sale disclosures regime for CCIs. In line with TISA’s research findings, we are calling for the FCA to undertake a holistic review of disclosures. The review should consider pre and post sale disclosures for consumer investments and should seek to improve intelligibility, accessibility and engagement. Consistency across disclosures should also be considered to drive up trust and suitable comparability. The TISA response to FCA CP 24/30 is available here and the TISA response to FCA 25/9 is available here
The review is essential to ensuring that consumers can consider whether investing is suitable for them and can make informed decisions about their financial lives.
TISA has also called for cash benchmarks to be included in performance disclosures, in order to help consumers decide how to efficiently allocate their money between cash and investments.
TISA’s research on rethinking ISA disclosures demonstrates how more contextualised, balanced risk warnings can help consumers make informed decisions. This research showed that contextualised risk warnings could lead to consumers allocating 14% more to investing, rising to 21% more being allocated by women. More information about TISA’s Inclusive Investing campaign is available here.
TISA has also responded to the FCA’s consultation on simplifying cost and charge disclosures. In the response, we have encouraged the FCA to amend its proposals to ensure consistency and encourage consumer confidence and trust. The TISA response to FCA CP 26/24 is available here
Aberdeen Group PLC
A J Bell
Aegon UK PLC
Altus Consulting
Ascentric
Aviva UK Insurance
Barclays Wealth
Blackrock
Capital Group
Digital Moneybox Ltd
Dynamic Planner
FE Fundinfo
Fidelity International
Forester Life
Freetrade Limited
Hargreaves Lansdown
Hargreaves Lansdown
Invesco
Lexis Nexis Risk Solutions
Life Moments
Lloyds Banking Group
Margetts Fund Management Ltd
Ortec Finance
Quilter
Scottish Widows
Simmons & Simmons
St James’s Place Wealth Management
Vanguard Asset Management
Sophie Legrand-Green, Head of Policy: Consumer Protection & Access leads on this work
Chair: Tom Selby, AJ Bell and Chris Jones, Dynamic Planner
