Treating Customers Fairly

Introduction

The Financial Conduct Authority’s (FCA) Treating Customers Fairly (TCF) Principle 6 requires a firm to pay due regard to the interests of its clients and treat them fairly. We are fully committed to TCF, and this Policy has been designed to demonstrate the application of TCF during our day-to-day activities.

TCF is embedded throughout the FCA’s Handbook, and the FCA’s six core consumer outcomes are embedded in our firm. These are:

  • Consumers can be confident they are dealing with firms where TCF is central to the corporate culture.
  • Products and services marketed and sold in the retail market are designed to meet the needs of identified consumer groups and targeted accordingly.
  • Consumers are provided with clear information and are kept appropriately informed before, during, and after the point of sale.
  • Where consumers receive advice, the advice is suitable and takes account of their circumstances.
  • Consumers are provided with products that perform as firms have led them to expect, and the associated service is both of an acceptable standard and as they have been led to expect.
  • Consumers do not face unreasonable post-sale barriers imposed by firms to change product, switch provider, submit a claim, or make a complaint.

Our TCF Mission Statement

We will act with integrity in everything we do and put our customers at the heart of our business.

Our TCF Principles

  • Customers will be provided with clear information and kept appropriately informed before, during, and after the point of sale.
  • If we give advice to our customers, the advice will be suitable and take account of their circumstances.
  • Our level of service will meet the expectations of our customers as far as reasonably possible.
  • We will ensure that there is no barrier for customers to express their requests, concerns, or complaints and will always be responsive to them.

Assessing and Implementing Our TCF Principles

Sales, Advice, Management

When providing advice, our advisers obtain a detailed understanding of the customer’s needs so that our recommendations are suitable. We ensure that our customers understand the risks involved with any service or product offered and are aware of all fees and charges.

Information and Support

We strive to keep our customers informed pre, during, and post-contract. Appropriate records are held and can be provided as required on an ongoing basis. We have appropriate capacity for storing and processing information to ensure continuous support.

Policies and Procedures

We have policies and procedures that are relevant to the fair treatment of our customers and which also meet FCA requirements.

Awareness/Training

We ensure that all advisers and staff are familiar with the TCF Principle and its outcomes. In addition, where applicable, advisers and staff are trained to advise on and adequately explain products and services. We make sure that all advisers and staff achieve the necessary qualifications and training to carry out their role to the required competence level. We undertake regular monitoring and assessment of our advisers and staff so that we can ensure their competence.

Compliance

We maintain a Compliance Monitoring Program which clearly lists areas of responsibilities and the frequency of checks required.

Remuneration

We operate a remuneration model that does not reward on sales performance only, to mitigate sales bias. We reward non-sales staff in a way which does not negatively impact on the treatment of our customers. All staff contribute to the firm’s overall target. The sale of finance is not incentivized.

Complaints

Our goal is to provide excellent customer service and complaint handling plays a major part in our TCF policy. We deal with customer complaints fairly and objectively and attempt to put things right as quickly as possible, in accordance with the requirements of the FCA.

Please refer to our Complaint/Complement protocol and procedure.

Conclusion

We encourage a culture of personal responsibility and impress upon all involved with our firm that a good culture is central to the economic health of our firm. We strive to build a strong conduct culture which builds both customer trust and inspires employees.

How to Contact Us

Or visit our website: www.arck.group