02 May 2024, 11:00 am - 12:00 pm | UK & Europe
We hosted the next Consumer Duty Champions Forum, held by the Consumer Duty Alliance, an independent professional body, bringing together individuals and firms as they implement the FCA’s Consumer Duty requirements.
Under the Consumer Duty, firms need to evidence how they have helped their customers make informed financial decisions. However, the Duty’s consumer understanding and consumer support requirements have received much less focus than those related to product and service design, and fair value. This has made it more difficult for firms to determine what good looks like and help benchmark whether their approach is up to scratch.
This Consumer Duty Alliance Champions Forum focused on the fundamentals of good customer journey design and highlights the practical steps firms can take to help support their customers, covering:
- Consumer understanding fundamentals: How insights from behavioural science can help you achieve and evidence consumer understanding.
- Practitioner perspective: How firms approach their consumer understanding and consumer support obligations, with practical example(s).
- Panel discussion on:
– What to consider when designing/reviewing customer journeys
– Approaches to consumer testing
– How to evidence consumer understanding
This event was ran prior to Bovill joining Ocorian and rebranding to Bovill Newgate.
Speakers
Tim Hogg
Tim specialises in using behavioural science to improve customer outcomes through better communications, business models, product design, and pricing.
He is a behavioural economist with 10 years’ experience in advising on the design and implementation of regulation. He’s advised providers across investments and pensions, insurance, retail banking, and consumer credit.
Nathan Long
Nathan is a research analyst working on pensions, savings, investments and wider public affairs.
He is the architect of Hargreaves Lansdown’s Savings & Resilience Barometer and leads the work on using behavioural science to improve client decision making. He’s been instrumental in developing analysis of engagement among workplace pension members.
He joined Hargreaves Lansdown in 2003 and has worked in several business areas including as a financial adviser to individuals, and as a pension and benefits consultant to employers across the UK.
Michael worked at the Financial Conduct Authority (FCA) for 16 years, most recently as a Technical Specialist in Consumer Investments supervision.
He joined Bovill Newgate’s Wealth team in February 2023 to advise clients on the regulatory frameworks governing advised and non-advised pension/ investment models, product governance, as well as complaints and redress.
His vast knowledge and extensive background make him the ideal choice to lead the Consumer Duty Champions' Forum.
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