Consumer Council

Enhancing the quality of engagement of consumers with their financial products/solutions

Industry challenge

The UK’s Advice Gap comprises 38 million adults who are not getting advice and who are required to be largely self-sufficient in managing their financial affairs and purchasing financial products.  The industry needs to continually improve the way it engages with consumers

Group purpose

The Consumer Council aims to improve the reputation and effectiveness of the financial service industry through better engagement with consumers and promoting their interests.

Areas of focus

  • Improving consumer access to financial guidance.
  • Ensuring vulnerable customers receive appropriate care.
  • Re-establishing a culture of savings amongst young people.

Group strategy

Goal/s:  To pursue evidence-based initiatives that improve the level of trust and engagement amongst consumers when interacting with the Financial Services industry.

Strategy:  Spawn new initiatives (i.e. as has been achieved in creating TISA’s Financial Guidance and Vulnerable Customer working groups) to improve trust and engagement with consumers.

Participating member firms

Aegon UK Plc

Altus Limited

Blackrock IM (UK) Limited

CMS Cameron McKenna Nabarro Olswang LLP

Crealogix

Dynamic Planner

Ernst & Young

Fidelity International

Hargreaves Lansdown

Janus Henderson

Legal & General Investments

Nationwide

NatWest

Northern Trust

OneFamily

Punter Southall Wealth

Quilter PLC

Revolut

Santander Asset Management UK Ltd

Succession Advisory Services

Prakash Chandramohan,
Strategic Policy Director leads on this work at TISA

Chair: Nicola North, Nationwide

Deputy Chair: Kevin Okell, Altus

If you are a TISA member, and would like to get involved with the Consumer Engagement work, please get in touch

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Consumer Engagement Groups & Resources

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