People considering various investment products could benefit from a Quick Guide proposed by the Financial Services Authority.

The proposed document will aim to help people to make an informed decision about the investment products they consider buying. The Financial Services Authority wants firms to produce a Quick Guide for life insurance, personal pension schemes and investment trust savings . The separate document that is put at the top of the product's marketing pack.

Every two-page Quick Guide would have a standardised format with numbered questions and bulleted answers.

According to Dan Waters, the director of retail policy at the Financial Services Authority, consumer testing of the Quick Guide demonstrates that it will stand out from other marketing material.

He also said that firms offering investment products should be able to clearly set out the key benefits and risks of each type of investment in an easy-to-read format.

In the same way as the existing Key Facts documents for mortgage and general insurance products, it will enable people to evaluate much better whether a particular product would be right for them, Mr Waters commented.

This proposed document is one of the main elements within a wider disclosure package for investment products that is to replace the current Key Features regime.