Anonymised individual responses from the Financial Conduct Authority's 2017 Financial Lives Survey. Includes approximately 13,000 records.

Data Available

The files contained in the package include:

  • fulldata_deposit_v2_labels.txt - Individual responses (full text version) - each field (response part) is delimited with ";" (semicolons). Some fields contain multiple responses, these are delimited with "|" (pipe) characters. Please note that many of the records are very long.
  • fulldata_deposit_v2_codes.txt - A copy of the above, but using number codes instead, this is more compact to manage and process but requires a lookup file to convert to full text.
  • fulldata_deposit_v2_datamap.txt - A lookup file to interpret the number codes.
  • financial_lives_user_guide_data_external_v4.pdf - A guide to the dataset and list of variables.

The first field in each record is a unique identifier. While these are individual records, no personally identifying data is included.

Geography Files

Most records include geospatial references, including local authority (LA) and LSOA (DZ in Scotland, SOA in N.I.). LA codes start with "E06", "W06", "S12" or "N09" and LSOA codes start with "E01", "W01", "S01" or "95" (for N.I.). Geography files for these are not available with this record, as they are downloadable from the original source.

Geography files for LAs can be found at https://www.ordnancesurvey.co.uk/opendatadownload/products.html#BDLINE

Geography files for LSOA/DZ/SOA codes can be found at:

About the Survey

The Financial Lives Survey 2017 is a robust large-scale quantitative survey, using random probability sampling to recruit respondents to a largely online survey, with a smaller number of interviews conducted in person in home, in order to include in the sample those without internet access and to increase the number of participants aged 70 and over. In total, 12,865 respondents from across the UK, all adults aged 18 or over, participated in the 2017 survey. More details and full report can be found here: https://www.fca.org.uk/publications/research/understanding-financial-lives-uk-adults

The survey, with questions asked of all respondents, establishes levels of product ownership, in retail banking, retail investment, savings, credit including mortgages, general insurance and protection, and pension products. It also establishes the level of use of regulated financial advice (advice incidence) and has a section covering assets and debts. Random probability selection rules then allocate each respondent to a single question set about one product area (such as retail banking or first charge mortgages) based on their product holdings, or about advice. In a small number of cases a respondent will not be eligible for any of these main product modules.

A different set of random probability selection rules allocates each respondent to up to two short question sets about one topic of interest, based in part on eligibility. These are: · Self-employed banking · Frauds and scams · Access to financial products and services · Claims management companies · Savings

Finally, all respondents that are eligible are asked to complete short question sets on GAP insurance, guidance received and being unbanked.

For a full description of product module and short question set allocation rules, please see the technical report: https://www.fca.org.uk/publication/research/financial-lives-survey-2017-technical-report.pdf

DataSprint Event

This dataset is was temporarily released as an encrypted downloadable file package for the FCA "Financial Lives" DataSprint event taking place on 20-21 March 2018. The version published on this record is a slightly updated version.

Accessing the Data

This is now a CDRC Safeguarded dataset available on application to interested researchers. If you are interested in conducting research with this data, please fill out the initial proposal form at https://www.cdrc.ac.uk/data-services/using-our-data/.

Data and Resources

Additional Info

Field Value
Product Financial Lives Survey
Date Range 2017
Collecting Date 2016-2017
Data Collector Kantar Public on behalf of FCA
Update Frequency Biennual
Geographical Scales Individual people
Analytical Units Adults
Data Kind CSV
Bounding box United Kingdom
Nation United Kingdom
Source FCA
Publication Year 2017
Maintainer Consumer Data Research Centre
Maintainer Email data@cdrc.ac.uk

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