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FCA spends £66,000 on new logo

Regulator picks Saatchi & Saatchi to design new logo

The FCA’s new logo

The Financial Conduct Authority spent £66,400 on its new logo, which was designed by advertising giant Saatchi & Saatchi.

The FCA paid the advertising firm £57,600 to audit its brand and design the new logo (pictured), according to a Freedom of Information request by Money Marketing sister title Mortgage Strategy.

The regulator spent the remaining money on areas such as trademarking the logo and buying rights to use the font used in the logo.

Mortgage Strategy revealed the regulator was planning to refresh its logo last month as part of a brand refresh.

An FCA statement says: “We undertook a refresh of the FCA brand to make sure our brand is accessible, open and transparent so that all our audiences understand our role.

“In particular, we need to ensure our brand works well for digital use and takes into account accessibility considerations.”

The regulator’s statement adds that consumers think the words ‘Financial Conduct Authority’ should be “clearly legible and accessible” in the logo.

It adds: “We are aiming to implement the brand refresh taking into account our value for money objective. This means that the existing FCA logo will be phased out over the next year as we update systems and templates as part of our move to new offices in Stratford.”

 

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FCA to change logo in ‘brand refesh’

The FCA will change its logo over the Summer, Money Marketing sister title Mortgage Strategy has discovered. The regulator has registered two versions of a new logo, both in its current colours, according to Intellectual Property Office filings. One contains all capital letters, while the other only capitalises the first letter of each word. An FCA […]

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Comments

There are 25 comments at the moment, we would love to hear your opinion too.

  1. Lets face it, who the ~~~k cares ? I am not paying for it !

    Nice little article to print off and laminate…… this will be produced from my folder from time to time, to enlighten my clients as to why their charges are so high and what (in part) it really pays for.

    The FCA must be running out of toes the amount of times they keep shooting themselves in the foot ?

    • Anthony Smith 9th May 2017 at 10:07 am

      It’s trade marked so you’re not meant to use it unlike the old FSA logo

      • Anthony.
        The article (as I said; is not trade marked, and my clients will be more than interested where their money goes and what it gets wasted on !!! as I said who cares about the logo……. the FCA is a regulator and funded by the financial services industries “CLIENTS” and its hardly the peoples champion it pretends to be, the Coukoo in the nest, if you will

  2. 66K for that … Im so obviously in the wrong job

  3. Rory Percival 8th May 2017 at 2:01 pm

    £66K to take out the wavy lines

  4. Graham Barney 8th May 2017 at 2:11 pm

    We are aiming to implement the brand refresh taking into account our value for money objective.

    Er! what? Value for money objective!!! The addition of 3 words justifies circa £66K??? They must of stressed themsleves out at Saattchi coming up with such an ingenious bit of marketing… also within this same paragraph is reference to a new office?? with all the costs that will mean.

    No mention here but this will obviously mean a double charge to the adviser community when we all have to change our own literature.

    They say the regulator wants to increase customer confidence in our industry, but is it not as important that the adviser community has confidence in its regulator? From what I see and read day in, day out, this latter ideal is a long way off.

  5. The only way to stop this errant waste of money is for all those funding the fees to stop paying them and then see how quickly there would be a change in mentality. It’s not the FCA that has to keep finding the business each to fund their costs. Scandalous !!

  6. Why Saatchi? So much cost! Jolly boys outing get to negotiate that deal over a nice dinner I’ll wager!

  7. Julian Stevens 8th May 2017 at 2:37 pm

    Justified by whom? Nobody, as usual.

  8. Richard Wright 8th May 2017 at 2:40 pm

    This actually makes me sick to the stomach – like all its predecessors they feel they can do exactly as they like as they are answerable to no one – the extortionate fees we all pay to fund these Jokers which seem to snowball as the years go on in part is related to their complete exuberance and incompetence. Hotel bills at £500 plus per nite, work away days @ £16,000 the CEO earning 2x what the PM gets and then we hear that they ate soon to be looking at the fees we charge clients !!! Jobs for the boys on this wonderful gravey train!!

  9. Stephen Foreman 8th May 2017 at 2:54 pm

    To have a brand seems you are in some form of retail business where it matters how you look.
    Beyond a joke, Financial C***ts Authority.

  10. Typical FCA accounting. They have left out the £10,000’s of FCA management time spent on this.

  11. Richard Carne 8th May 2017 at 3:05 pm

    When I served on the Smaller Business Practitioner Panel of the FSA the panel wasted about an hour being consulted on the proposed new FCA logo. Various designs were put before the panel and I recall that we were fairly much in agreement with the one we preferred. Imagine my incredulity when the present logo appeared which bore no resembalnce to the ones we were all shown and consulted on. The fact that 4 years later and at significant cost that logo is again being abandoned in favour of a “brand refresh” leaves me lost for words! The profligacy of this quango with other people’s money is an utter disgrace! Dick Carne

  12. Richard Carne 8th May 2017 at 3:09 pm

    Please change “resembalnce” in my comment to resemblance!!

  13. Elliot Guthrie 8th May 2017 at 3:20 pm

    £66,000 – that doesn’t include the cost of the signage, welcome mats, promotional pens, documentation, forms, adverts…… and the list goes on.

    I suspect the average man in the street doesn’t even know what FCA stands for – let alone being able to spot the logo.

    The FCA’s “customers” are the industry who don’t care what the logo looks like, and don’t care at all about “brand identity” – they are a regulator NOT a business!

  14. I don’t usually comment but this is unbelievably farcical. If I had more time I would love to hold them to account and I very much hope someone does. What an utter waste of money.

  15. Pete Wildebest 8th May 2017 at 5:03 pm

    Logos on their own are not brands. One of the best measures of a brand is what people are saying about it behind their backs. From that point of view, this is simply lipstick on a pig.

  16. How the hell the regulator can have the brass neck to come out with some airy fairy advertising jargon to justify this shameful waste of our fees is astonishing. My one year old grandson could have come up with the idea of changing the purple to white and vice versa while colouring in the white wavy lines. He would have only charged a Milky Bar.

    Talk about gullible and they’re the ones supposedly making sure we give value for money to clients! The FCA’s use of money is a joke!!

  17. Disgusting. Saatchi? They must be one of the most expensive around. I wager that they could have found a firm that would have done it for a tenth of that price. My own sister is a graphic artist and has designed many logos. I’ll bet she wouldn’t have charged even £6k!

    I believe the FCA regulates about 18,000 firms. I suggest they send a letter of apology and a cheque for £3.69 to each of them.

    I believe the FCA regulates 18,000 firms. Therefore I think they should send a cheque to each of them

  18. Our logo cost us £97.50 and it looks much better that than big bag of p**!

  19. You realise this is a public forum and your language and threats can be viewed by the public? If advice is to ever become a true profession this needs to stop.

    Complain to the regulator if you feel that strongly.

    • Er then it ceases to be a “public” display of outrage if its done behind closed doors
      Have you ever complained to the FCA or indeed passed a legitimate comment Matthew ? I have; and it took a letter from, the, then PM to only get a snooty reply from Sants himself (well probably one of his gofers) basically telling me to get stuffed, not really very good is it, from a public “service” company ?

  20. Steve Barrett 9th May 2017 at 5:23 pm

    I believe these people are entitled to be angry with this completely unjustified profligacy. It is after all their money that is paying for it. It just demonstrates how this out of control quango sees it`s self. It is so full of it`s own importance it completely misses the point of why it actually exists. Then it dares to question whether advisers offer value for money. You couldn`t make it up.

  21. I wonder if people do will associate the new logo with value for money If that is the case why did they not put it out to tender Or better still give a small agencies a chance to pitch for the job

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