The owners and management of LFC Financial Management Ltd, as a founder member of Synergy Financial Services Group Ltd; are committed to ensuring that the FSA principle of Treating Customers Fairly (TCF) is applied in all areas of our day to day business activities.
In adopting the TCF principle we recognise that fair treatment of our customers/clients is about adding value to the service we offer by aiming to:
Protect the interests of our clients at each stage of the product life cycle, from promotion right through to ongoing service after product implementation has occurred.
Meet, as best we can, the unique needs of each client by offering a transparent, efficient and professional service, and constantly reviewing our service to identify areas for improvement.
In practical terms for the different areas of our business this means:
Ensuring that promotional material is clear, compliant, jargon-free and appropriately targeted.
Ensuring that all advisory staff have thorough training on all products that they advise upon, understand who they are and are not suitable for, and encourage them to challenge product providers where they spot inconsistencies, ambiguities or potential unfairness in the product literature or product features.
Operating remuneration systems which assure fairness to the client as well as client satisfaction.
Consistently encourage non advisory staff to implement TCF in their day to day business activities.
Maintaining detailed records of client instructions, profile and attitude to risk; and of the advice/options given before, during and after a product purchase. This will help ensure we treat clients fairly and can deal swiftly and fairly with any complaint, should one arise.
Positively encouraging after purchase contact with clients, and where appropriate, providing enhancements/additions to service, thereby ensuring client satisfaction.
Ensuring that should a client complaint arise, it is dealt with and assessed fairly, promptly and impartially, and in line with FSA deadlines and rules.
Encouraging our staff to recommend improvements to service, implementation of the same whilst monitoring the outcome.
Ensuring that all staff are kept up to date with relevant training in relation to competence, data protection and other matters directly affecting the quality of service offered to clients.
Offering regular training in the principles of TCF at all levels of the business.
Regularly monitoring and reporting on all of the above TCF activities, in order to assess TCF performance across the business and recommend changes where appropriate.
Ensuring that TCF values, which are set and communicated by the owners and management, are supported by all staff and understood in the same way.
