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If Even the FCA Says Investment Documents Are Too Hard to Understand… Perhaps It’s Time to Level the Playing Field
The FCA is asking firms to write more clearly.
The Academy of Life Planning is helping people understand whatever firms choose to write.
This week the FCA revealed that only 6% of investment disclosure documents it reviewed were written in plain English. Every document assessed fell below the level expected to be understood by someone studying for GCSEs.
That's an important finding.
Clearer communication from firms is long overdue.
But it also raises a bigger question.
Should consumer protection depend entirely on firms writing better documents?
Or should people also have better tools to understand the documents they receive?
For decades, financial regulation has relied heavily on disclosure. The assumption has been that if enough information is provided, consumers are protected.
Experience tells us otherwise.
Information is not the same as understanding.
That's why we developed The Leveller™.
Rather than telling people what to do, it helps them understand what they're being asked to sign.
Whether it's an investment agreement, financial contract, settlement, warranty, employment contract or legal document, The Leveller helps surface:• Hidden risks• One-sided clauses• Unfair terms• Plain English explanations• Questions worth asking before you commit
This isn't about replacing advisers or lawyers.
It's about restoring human agency.
Because the strongest consumer protection isn't simply better disclosure.
It's a citizen who can understand, question and decide with confidence.
The FCA is working to improve the quality of information firms provide.
We're working to improve the capability of the people receiving it.
That's the difference between disclosure and understanding.
And in an age of AI, understanding has never been more accessible—or more important.
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