Treating Customers Fairly (UK)
All businesses should provide a level of care that is appropriate to the needs and limitations of their customers. To comply with Financial Conduct Authority guidance, financial services companies must show consistently that fair treatment of customers is at the heart of their business model. This course explains the Treating Customers Fairly initiative and the six outcomes that customers should expect from financial firms. With this knowledge, you and your firm should be able to create a corporate culture and strategy for how you target, communicate, advise and assist customers throughout the sales journey.
Covered in this course:
- Treating customers fairly is a requirement for all regulated firms, no matter their size or the nature of their activities.
- The FCA provides six consumer outcomes that firms should strive to achieve to ensure fair treatment of customers.
- Fair treatment of customers is central to the corporate culture of financial firms.
- Firms should design and target products and services to meet customer needs.
- Companies must provide clear communication through all stages of the sales cycle.
- Any consumer advice that firms provide should be suitable to customers and their circumstances.
- Firms should ensure that financial products perform as advertised and services are provided to expected standards.
- Financial companies must remove any barriers to customer actions after a sale.