IFA firms should use the FSA's treating customers fairly (TCF) initiative as an opportunity for positive change, says Tenet.
The IFA network says firms could step-up their client communication and create more post-sale business opportunities while ensuring they have embedded the TCF principles into their practice. Keith Richards, group distribution and development director at Tenet, says: “The whole principle of TCF is making sure you’re looking after consumers so that clearly goes beyond point of advice or point of sale. It’s about making sure there are procedures there to keep consumers informed.” He says many advisers initially found TCF confusing because they had no clear requirements to check against. The...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes