Understanding consumer reactions to technology enabled solutions
In early 2009 Focus Solutions commissioned research to understand what drives mass market consumers to purchase simple financial products. This was in response to the FSA’s Retail Distribution Review which outlined the potential for new distribution options.
The objectives of the research were to explore:
- Why mass market consumers don’t buy more simple savings, investment, pension and protection products?
- What products do they currently have versus best practice?
- How do / would they choose between an advised route and one where they were given a suite of tools to help them decide for themselves?
- How do they feel about using technology to help them buy these products?
- What do they think to current online financial sites?
- How much do they think financial advice should cost?
The research was conducted across a range of ages, socio-economic groups, household income and whether they used a financial adviser.
The full findings of the research are available from Focus Solutions, to request the report please complete this
form.