set of standards will be unveiled at state of the nation conference
Intermediaries are facing a number of difficulties in the current environment, including rising professional indemnity rates, the tide of regulation, volatile stock markets and negative media sentiment about their profession.
All of these issues are important on their own but combined they create a general lack of confidence in the financial services industry.
Among intermediaries, there is a lack of confidence in many product providers, while among consumers, there is a lack of confidence in both providers of products and providers of advice.
In response to this crisis of sentiment, Incisive Media, the publisher behind Investment Week and Post magazines, is launching a unique set of standards for financial services companies with the aim of winning back the respect of consumers.
Gold Standards will be unveiled at the beginning of October at the State of the Nation conference, which is the key event for the financial services industry.
The Gold Standard will be awarded to financial services companies who pass a quality and standards benchmark in the following financial services sectors:
Gold Standard for Banking
Gold Standard for Mortgages
Gold Standard for Pensions
Gold Standard for Insurance
Gold Standard for Life and
Gold Standard for Fund
Gold Standard for Independent Financial Advice
Who can gain a Gold Standard?
Fund groups, mortgage companies, life groups, banks and independent financial advisers based in the UK.
Why are Gold Standards important?
Gold Standards are the best award a financial services group can receive.
They do not apply to individual products; rather, companies will be marked on a range of criteria representing the most important information necessary for consumers and advisers buying financial services products.
These include financial strength, capability, service, fair value and trust.
Companies achieving the Gold Standard indicate to consumers and professionals using financial services the standard holder has passed a rigorous set of measurements in the above areas, giving users a higher level of trust in that company.
How can your company apply for a Gold Standard?
For further information, visit www.goldstandardawards.com or email [email protected] bmp1.fsnet.co.uk.
'Fewer than 1% of firms PROD-compliant' - Rory Percival
'Left holding the can'
'VCTs and EIS compared' panel
Letter to Women and Equalities Committee
Decumulation panel debate