TCF And Consumer Duty

Consumer Duty Rules – Making informed decisions and ensuring continued financial well-being

Consumer Duty rules, introduced in 2023, further enhance our client service and reinforce the need for all financial advice firms to act with integrity, provide reliable services, and ensure clients receive fair value. These principles reassuringly endorse our already ingrained client-first culture.The rules introduce a new Consumer Principle, which requires all firms “to act to deliver good client outcomes”.Our four desired outcomes for clients include:

1. The quality and suitability of products and services

Do the benefits you receive justify the price of our products or service?

2. Fairness in pricing and overall value

Do the products and services meet your needs? Will it help you achieve your financial objectives?

3. Enhancing consumer comprehension

Do you fully understand the product or service and what you are signing up for? Is the product information accessible for you to read and understand?

4. Provision of effective consumer support

Are you receiving the support you need when you need it? Is the support being offered the proper support for your circumstances?

Treating Customers Fairly

Treating Customers Fairly (TCF) is integral to our business practices. It is a core element in the way we behave and transact business; our commercial dealings always take full account of the principle of Treating Customers Fairly. We aim to provide full information to our clients covering the benefits, risks and costs of any recommended product or service provided. Our intention is to inform in a fair and transparent way so that our clients can understand what they can reasonably expect from our service and from any policy or plan recommended.

We aim to honour all commitments we make to our clients. If any dissatisfaction should occur, we will investigate the underlying cause and take appropriate action whenever necessary. Our reputation is important to us therefore client satisfaction is vital and Treating Customers Fairly is implicit in all our dealings.