Keep it short and to the point. That’s the message from consumers following research by the Investment and Financial Services Association (IFSA) into product disclosure statements.

IFSA’s survey finds legal compliance demands are creating a swathe of virtually unreadable documentation that runs counter to the aim of informing the investor.

Instead, consumers want 20-page documents that clearly outline fees, investment options and contact details. Other suggestions for superannuation product disclosure statements are simple guides to past fund performance and Q&A pages.

IFSA says the research will help shape the future development of product disclosure statements.

Insurance brokers say they support the initiative, with several brokers telling insuranceNEWS.com.au their clients do not read disclosure statements.