Consumer Duty
Consumer Duty evidence
The Financial Conduct Authority's Consumer Duty (PRIN 2A) requires regulated firms to deliver good outcomes for retail customers. This page is the public evidence pack for how My Asset Safe meets the four Consumer Duty outcomes.
Products and services
Products are designed to meet the needs, characteristics and objectives of a clearly identified target market and distributed appropriately.
- Target market definition
- UK resident adults aged 35-75 with financial assets that would pass through an estate. Vulnerability flags surface the sub-groups that need enhanced support.
- Fair value review
- Annual fair value assessment compares the £6/month price against the total cost of probate delays, unclaimed assets and administrative burden. Review evidence is retained in the admin audit log.
- Product governance
- Every new feature that touches estate, authentication or death-claim workflows goes through a written product governance review before release.
Price and value
The price customers pay for a product or service represents fair value.
- Transparent pricing
- Flat £6/month, no tiers, no asset-based fees, no hidden charges. Annual discount published on the pricing page.
- No cross-subsidy
- Vulnerable customers pay the same price as everyone else. Support workload from a flagged account is covered out of the operating margin, not back-charged to the customer.
- Cancellation rights
- Customers can cancel at any time via Stripe portal. No cancellation fees. Data is retained for 30 days after cancellation to allow account reinstatement, then deleted on request.
Consumer understanding
Firms must communicate in a way that supports understanding and equips consumers to make informed decisions.
- Plain language
- No legalese in user-facing copy. Death claim walkthrough is written at a reading age a 14-year-old can follow. Security concepts are explained with analogies on the Security page.
- Consumer Duty testing
- Every critical flow (onboarding, vault unlock, death claim) is comprehension-tested with a sample of target users before release. Results are retained for three years.
- Proactive reminders
- Users receive quarterly nudges to review their vault completeness and beneficiary nominations. Admin dashboard tracks how many users are actioning the nudges.
Consumer support
Consumer support meets the needs of customers, including those with characteristics of vulnerability.
- Vulnerable customer register
- Admin page maintains a live register of customers flagged for additional support, the reason, and the review date. Every support interaction inherits the flag context.
- Complaints register
- FCA DISP complaints register with SLA tracking, ownership, resolution notes. Breached SLAs are surfaced in red at the top of the admin dashboard.
- Escalation paths
- High-severity complaints and any breach involving a vulnerable customer automatically escalate to a named compliance reviewer and are flagged in the tamper-evident audit chain.
- Cooling-off on unlock
- 14-day cooling-off window on every death claim, extended where a vulnerable customer flag is active and a beneficiary has raised an objection.
How this evidence is kept current
Every annual Consumer Duty board report is generated from the same admin data that feeds this page: complaints register, vulnerable customer register, breach notice register, SLA dashboard, and the tamper-evident audit log. New features that touch the four outcomes trigger a review and an updated entry here before release.