the risk of the firm mis-selling;
the risk of customers mis-buying
TCF is a concept rather than a set of defined requirements or rules. It is the responsibility of the firm how well it will implement the principles in their individual practices.
So as a client, what does mean to me?
“lack of consumer confidence and trust in retail financial services, as a result of high profile mis-selling, acts as a barrier to customers engaging in financial services and being proactive in regard to their financial security”
(Source The FSA consultation paper “towards a National Strategy for Financial Capability” 2003)
- The firm offering the best product it can
- The firm should exhibit clarity in the advice they are providing
- Making it easy for clients to understand the products or services the firms sells and see how they meet their needs
- Making it easy for clients to choose and buy the right product or service
Why is TCF important to Pelican Mortgages
- Improved client's confidence in our services and the products we sell
- Improved Retention. A satisfied client are more likely to return back to our services we provide
- Fewer Complaints. Satisfied clients are unlikely to complain
How will we approach this
Customer Service Quality: We ask how our clients feel about the various services provided. These can include:
Speed and ease of application
Quality of Responses
Quality of Information provided
Quality of Communication
This can be gathered from a telephone call or by a questionnaire. This data is then collected and analysed which enables us to identify any gaps in which we can improve our services to you.
The full details of TCF can be found in the FSA website or by clicking on the link below:
http://www.fsa.gov.uk/Pages/Doing/Regulated/tcf/index.shtml
