What does “Treating Customers Fairly” mean?
The idea of ‘treating customers fairly’ is certainly not a new one; it is a concept that has long be enshrined in FSA’s principles for business. Principle 6 of FSA’s Principles for Business specifically requires that all regulated firms pay “due regard to the interests of their customers and treat them fairly”.
TCF applies to all firms, regardless of their size and regardless of whether they are a product provider, distributor or adviser firm. TCF applies to investment firms, mortgage firms and general insurance intermediaries.
Staying on track
To help you undertake a review of your business, we’ve developed:
- A TCF Planning Tool that illustrates many of the issues you face every day
- Clear guidance is provided on each consumer outcome
- Action plans and MI templates
- A TCF assessment tool, which firms may wish to use as a ‘summary’ of any internal reviews / analysis they undertake
- A selection of Customer Surveys and questionnaires to enable you to self audit
- Automated client feedback tool to enable you to benchmark firm and adviser performance
You can use our library of interactive online tools to develop a personalised action plan for your business.