Tools, templates and tactics to engage clients and evidence good outcomes.
We now know the FCA’s Consumer Duty has redefined how financial firms must approach client engagement. At its core is a simple but powerful principle: firms must act to deliver good outcomes for retail customers. But achieving compliance is not just about ticking boxes, it requires a cultural shift in how firms interact with clients, track outcomes, and demonstrate their commitment to fair value and clarity.
This article provides a practical playbook to strengthen client engagement while meeting the four key outcomes of Consumer Duty: products and services, price and value, consumer understanding, and consumer support.
If you or your team would like any suggestions on software tools, introductions to independent consultants or examples of best practice don’t hesitate to contact us or schedule a quick 15 minute call!
Engaging Clients Throughout the Lifecycle
From onboarding to ongoing servicing, every client interaction is an opportunity to improve outcomes and demonstrate compliance.
Onboarding Templates
- Use plain-language welcome packs that clearly explain product features, risks and fees.
- Include short, interactive assessments to ensure clients understand key details before proceeding.
- Offer comparison tables to help clients assess suitability across different options.
Ongoing Communication Checkpoints
- Create a communications calendar to schedule regular check-ins, such as quarterly reviews or annual statements.
- Use digital surveys to assess client satisfaction, goal progress, and changes in financial circumstances.
- Provide summaries of key information after every touchpoint, and record client preferences in CRM systems.
Tools to Measure and Evidence Good Outcomes
Data plays a central role in demonstrating compliance.
Client Outcome Dashboards
Track indicators such as product usage, performance against expectations, number of support requests and dropout rates. Segment this data by customer type to identify potential vulnerability patterns.
Feedback Loops
Collect structured feedback through Net Promoter Scores (NPS), post-interaction surveys or call quality assessments. Analyse responses by channel and adviser to ensure consistency.
Vulnerability Flags
Use automated alerts in your CRM when clients show signs of changing needs, disengagement or confusion. This can trigger tailored follow-up actions.
Embedding Consumer Understanding in Communication
The FCA has made it clear: it is not enough to send information; firms must be able to demonstrate that clients understand it.
Tactics to Improve Clarity:
- People learn differently – why not present information in written, audio, visual and interactive (‘doing’) formats?
- Use layered content, such as a short summary followed by more detailed information.
- Replace jargon with plain English and use readability tools to check language level.
- Pilot messages with small groups of clients and monitor engagement metrics, such as open rates and follow-up queries.
Support Strategies That Show You Care
Under Consumer Duty, firms must ensure clients can act in their best interests without facing barriers. That includes offering timely and responsive support.
Support Templates and Tactics:
- Develop scripts for client-facing teams to ensure consistency of service.
- Build accessible online help centres with FAQs and live chat options.
- Offer appointment booking tools and call-back services to increase convenience.
- Provide additional support options for clients with specific needs, such as hearing impairment or limited digital access.
Common Mistakes in Client Engagement Compliance
Avoid these common pitfalls:
- Generic Communication: Blanket messaging does not account for client diversity and can lead to misunderstanding.
- Lack of Feedback Mechanisms: Without client input, it is difficult to demonstrate continuous improvement.
- Inaccessible Support: Long wait times or limited contact channels can undermine good outcomes.
- Insufficient Evidence Gathering: If firms cannot demonstrate how they supported decision-making or confirmed understanding, they increase their compliance risk.
Conclusion
Interestingly, the FCA has removed the expectation for firms to appoint a Consumer Duty champion, effective February 27th of this year.
This change undoubtedly reflects the FCA’s confidence that firms have sufficiently embedded the Duty into their management structures and is a small nod that self-governance is possible.
We see Consumer Duty not just as a regulatory requirement, but as an opportunity to build stronger, more meaningful relationships with clients.
We now, as an industry, have more flexibility on how to do so.
By applying structured engagement techniques, gathering meaningful feedback, and documenting each stage of the client journey, firms can meet the FCA’s expectations and create a clear competitive advantage.
A well-planned engagement strategy is your strongest line of defence and your best asset for long-term success in a client-focused era.
This content is intended for financial professionals only. These are the author’s views at the time of writing and may be subject to change. This content is not intended to provide the basis for any investment advice or recommendation. Any forecasts, figures, opinions, tools, strategies, data, or investment techniques are included for information purposes only.
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