“The industry has come a long way in terms of transparency, but the continued presentation of information in generic percentage terms only serves to maintain consumer confusion and distrust of financial services,” the chief executive of Instinct Studios said.
The fintech firm has said clear, up-to-date and personalised information could help people understand their investments and potentially encourage further investment.
According to the research, 79 per cent of investors prefer performance data expressed either as a monetary value or both in monetary and percentage terms, while 82 per cent want it with fees and charges.
Among advisers, 47 per cent want changes to performance data and 51 per cent want it on fees and charges.
Michael Basi, managing director of Essex-based Basi and Basi Financial Planning, said: “Having information expressed clearly in pounds and pence is important, but advisers need to measure the financial acumen of their clients – products are connected to this and if someone does not have the capacity to understand then are they suitable for an equity-based investment that is subject to a lot of volatility? If not simple products such as an NS&I offerings or the like would be more suitable.”