Standard Life has launched an industry consulting body to improve customer communications around changes such as the RDR and gender neutral pricing.
The Customer Communications Council will debate ideas to improve communications by working with advisers and the wider financial services sector.
It will also aim to keep advisers informed of future plans for customer communications.
The inaugural members of the council include Unbiased.co.uk chief executive Karen Barrett, Institute of Financial Planning chief executive Nick Cann, Dennehy Weller managing director Brian Dennehy, and Personal Finance Society chief executive Fay Goddard.
Also sitting on the council is Newell Palmer Group managing director Garry Godwin, Ludlow Independent Financial Advisers director Ian Hemmingway, Aspira managing director Derek Miles, Fiscal Engineers managing director Shane Mullins, The Munro Partnership chairman Stephen Munro, and Threesixty managing director Phil Young.
The council will meet two to three times a year and will be chaired by Standard Life managing director of marketing Bruce Kelsall.
Standard Life says there are five areas where it may contact advisers’ clients directly.
These are communicating regulatory and legislative changes such as the RDR and the gender directive, annual statements, communications related to treating customers fairly such as explaining product features, and for educational or research purposes.
Standard Life UK chief executive Paul Matthews says: “We are introducing the Customer Communications Council to ensure all communications are supportive to both customers and advisers and are as transparent as possible.
“We will continue to look at ways we can reinforce the relationship between ourselves, the adviser and the customer.”