The Financial Services Consumer Panel (FSCP) has launched its research on what it calls ‘straightforward outcome’ products.
It wants to to stimulate debate in the financial services industry and among key stakeholders.
The FSCP believes that consumers should be able to access products that meet their needs by delivering a straightforward and expected outcome. Currently many consumers find choosing the right product a stressful and frequently unrewarding experience, with product complexity a significant stumbling block, it argues.
Adam Phillips, chair of the FSCP, said: “The Panel wants to see consumers given access to products that do what they say on the tin. We hope that our research will encourage a debate within the industry