PIMFA Member Feedback on the FCA December 2023 Wealth Data Survey

Background

In December 2023, an FCA Wealth Data Survey was issued to all Wealth Management and Stockbroking firms. Firms were given 12 weeks to submit responses by 6^th March 2024. This was the second year the FCA has conducted the survey, which incorporated previously shared industry feedback, such as extending the completion time from 8 to 12 weeks.

Following the completion of this second iteration of the survey, PIMFA would like to provide anonymised industry feedback to the FCA to continue improving the future data collection process, highlight ongoing challenges with the length and complexity of the data request, the value of the data collected, and further minimise the resource and cost burden on firms.

In addition, the feedback will help to inform the FCA’s wider Transforming Data Collection programme intent and progress and help better understand why this survey data is collected and how it is used.

We, therefore, ask all firms involved in the recent FCA Wealth Data Survey to provide anonymised feedback to the 12 quantitative questions below.

This short survey should take no longer than 15 minutes to complete. An anonymised and redacted summary of all responses will be provided to each firm that participates. Thank you in advance for your participation.