The Directors of Investment Quorum Ltd (IQ) 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 is about adding value to the service we offer by aiming to:
- protect the interests of our customers at each stage of the product
life cycle, from promotion right through to after sales service
- meet as best we can the unique needs of each customer 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 received thorough training
on all products they advise upon or arrange, understand who they are
and aren’t suitable for, and are encouraged 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 customer
as well as customer satisfaction, rather than only rewarding new business
volumes
- finding ways to encourage non advisory staff to implement TCF in their
day to day business activities
- keeping detailed records of customer instructions and profile/attitude
to risk, and of the advice and options given before, during and after
any transaction – to help ensure we treat customers fairly and
can deal with any complaints that may arise swiftly and fairly
- encouraging after sales contact with clients where appropriate to
correct or improve on the service already offered
- ensuring that customer complaints are assessed fairly, promptly and
impartially, and in line with FSA deadlines and rules
- encouraging staff to recommend improvements to service following customer
complaints – and monitoring the outcome
- ensuring that 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 customers
- offering regular training in the principle of TCF at all levels of
the business
- regularly monitoring and reporting on all of the above TCF activities
as part of the company’s monthly statistics/MI, in order to assess
TCF performance across the business and recommend changes where appropriate
- ensuring that TCF values, which are set and communicated by Senior
Management, are supported by all staff and understood in the same way
A few practical examples of our approach:
- We rebate all fund manager rebates to our clients
- Switch and trade charges are all covered by our standard charges
- For the avoidance of doubt or error we record telephone conversations with our clients
- We make it easy for our clients to communicate with us by publishing switchboard, direct dial and mobile phone numbers. All correspondence requiring a response is accompanied by a reply-paid envelope
- We absolutely welcome your feedback or any improvements you can suggest
Lee Robertson
CEO
0207 337 1390 or 07775 948576
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