{"id":70137,"date":"2017-04-04T17:43:16","date_gmt":"2017-04-04T16:43:16","guid":{"rendered":"https:\/\/www.strattoncraig.com\/insight\/boring-financial-language-critical-information\/"},"modified":"2025-03-07T17:21:18","modified_gmt":"2025-03-07T17:21:18","slug":"boring-financial-language-critical-information","status":"publish","type":"post","link":"https:\/\/www.strattoncraig.com\/us\/insight\/boring-financial-language-critical-information\/","title":{"rendered":"Boring financial language or critical information?"},"content":{"rendered":"

\"\"<\/p>\n

The boring fine print<\/strong><\/h3>\n

I recently shared a story with a colleague about a work dilemma which has stayed with me for over ten years. As a lowly Marketing Executive for a financial services firm, I was once asked to review the product brochure for a new pension fund.
\nThe fund was being launched by a funky, well-known brand, entering the market as a no-fuss, no-frills pension provider. My firm was acting as the responsible entity for the fund, which is how the brochure ended up in my hands.
\nThe brochure was well-written and witty, cheeky even, and was certainly far removed from most of the dull financial disclosure documents that crossed my desk. I liked the way it simplified the product\u2019s features and benefits and didn\u2019t use any finance jargon.
\nHowever, as I made my way through the brochure, I became more and more uncomfortable. While focusing on plain language, they had skimped on details around the risks associated with the funds. Alarms really started ringing when I read the disclaimer title: \u201cThe boring fine print\u201d!
\nYes, financial language\u00a0can be boring, but it\u2019s also really important that people signing up to a financial product understand it fully \u2013 its risks as well as its benefits. People\u2019s life savings depend on it. Not only did I feel the fund was glossing over important information that its customer needed to know, it seemed to be actively discouraging people from reading it. I was shocked by this cavalier attitude, and I shared my concerns with our legal team who pressed the panic button and shut that party down (in a sedate and lawyerly way).<\/p>\n

When is simple, too simple?<\/strong><\/h3>\n

I was reminded of this story again this week, when a friend showed me a product she is creating for a financial services firm. The goal is to sell inflation-linked funds through a simple web interface.\u00a0 It gives you a choice between funds with different risk levels and therefore different potential outcomes. The bit that troubled me was when the interface lets you enter an initial investment (let\u2019s say \u00a33,000) and then asks how much you\u2019d like to make and spits out \u00a37,500, \u00a38,000 or \u00a310,000 for you to choose from. It seems to me that most people will say \u201cwell, I quite fancy the \u00a310,000, thanks very much\u201d, but this really isn\u2019t the full story of whether an investment is right for you. The programme doesn\u2019t consider how soon the customer might need to access their investment, what other investments or assets they have or how comfortable they are with the potential for capital loss.
\nNow, I should explain that this web product has not yet been launched and has not been through legal and compliance vetting, so this issue will likely be picked up in review. However, it did lead me to ponder the challenge for these so-called \u201csimple\u201d financial products in ensuring customers fully understand what they\u2019re buying before they invest.<\/p>\n

Better writing, better understanding<\/strong><\/h3>\n

Do I believe that some financial language\u00a0could be written more simply? Absolutely. Do I believe that this should mean skimping on product details? No way. Simple and clear writing does not need to be dumbed down. Good quality, plain-English writing can make complex, technical information accessible and clear for most audiences.
\nHere are my cardinal rules for simpler investment writing:
\nUse a simpler word if there is one<\/strong> \u2013 Don\u2019t use \u201cequities\u201d when \u201cshares\u201d or \u201cstocks\u201d will do just as nicely. And unless you\u2019re explaining the finer points of fixed income securities, don\u2019t say \u201cyield\u201d, just say \u201cincome\u201d.
\nAvoid acronym overdose <\/strong>\u2013 Finance is famous for unnecessary acronyms, and documents peppered with them are just the worst! If you must use an acronym, define it clearly the first time you use it. Even if you think it is in common parlance, be respectful to your audience and spell it out. Also, consider defining it in simpler words as well to make your writing more readable, e.g. \u201cthe individual savings account (the ISA or the Account)\u201d.
\nShorten sentences, simplify clauses<\/strong> \u2013 One reason that disclaimers, and the other \u201cboring bits\u201d of financial documents, seem so impenetrable is the long sentences that seem to go on and on and on. It makes them hard to read and even harder to understand, but there\u2019s no need for it.\u00a0 Simply separating multiple clauses with a full stop can help a reader to absorb complex information in bite-sized chunks.
\nWrite well, right to the end<\/strong> \u2013 The promotional, or \u201csales-y\u201d, parts of a brochure or disclosure document will quite often enjoy the loving attention of a marketing or communications department. Plenty of time will be devoted to crafting pithy taglines and captions, and you really don\u2019t want to know how long the average product naming takes! However, this level of attention is rarely paid to the risk disclosures or disclaimers. These sections are usually drafted by the legal department and then left alone. Given how important it is that people really understand what they\u2019re signing up to, the \u201cboring bits\u201d should also be written as clearly and simply as possible.<\/p>\n

Buyer beware<\/strong><\/h3>\n

Following these rules will go a long way to making financial writing<\/a> more accessible for everyone. In the meantime, be wary of products and brochures making promises that seem too good to be true. When it comes to financial decisions, it\u2019s crucial that you\u2019ve clearly understood the \u201cboring bits\u201d so you know what you\u2019re getting yourself into.<\/p>\n","protected":false},"excerpt":{"rendered":"

The boring fine print I recently shared a story with a colleague about a work dilemma which has stayed with me for over ten years. As a lowly Marketing Executive for a financial services firm, I was once asked to review the product brochure for a new pension fund. The fund was being launched by […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[314,413],"tags":[460,474,475],"class_list":["post-70137","post","type-post","status-publish","format-standard","hentry","category-copywriting-us","category-financial-copywriting-us","tag-copywriting-us","tag-financial-copywriting-us","tag-financial-services-us"],"acf":[],"yoast_head":"\nBoring financial language or critical information? - Stratton Craig - Global Copywriting & Content Strategy Agency<\/title>\n<meta name=\"description\" content=\"Striking the balance between simple financial language and clear disclosure is critical, as the financial services industry embraces plain English.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.strattoncraig.com\/us\/insight\/boring-financial-language-critical-information\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Boring financial language or critical information? 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