TCF stands for Treating Customers Fairly.
TCF isn’t new; it’s been around for quite some time in different shapes and themes within Financial Services and with the recent change from the previous Financial Services Authority (FSA) Regulator - to the new Financial Conduct Authority (FCA), the new Regulator is refocusing one of its existing Business Principles;
A firm must pay due regard to the interest of its customers and treat them fairly
The Financial Conduct Authority (FCA) has further stated that;
Treating customers fairly (TCF) remains central to our expectations of firms’ conduct, that firms put the well-being of customers at the heart of how they run their businesses
Sesame Bankhall Group (SBG) take Treating Customers Fairly seriously and views TCF as a vital element of our business.
Everything we do from designing business strategy, implementing Training and Competency frameworks, attracting new members and clients to the Group, to helping new and existing financial advisers deliver compliant business, is designed to help make sure that you, the actual consumer get a fair outcome when receiving financial advice.
SBG is committed to ensuring our business operates with integrity and that the interest of you the customer is at the heart of everything we do, helping to make sure our regulated guidance and support filters down to our members and clients - helping them deliver compliant solutions and fair outcomes to you.
That’s why we make sure we inform our members and clients are provided with up-to- date regulatory news and guidelines provided by the FCA,; ensuring SBG business practices policies and procedures are designed with TCF in mind, so that you the consumers get the right service, product and clear documentation at all times.
Sesame Bankhall Treating Customer Fairly Culture
In shaping our TCF Culture and making it more visible to You – the customer, we have undertaken a number of new activities to reinforce our existing TCF practices and TCF culture.
In shaping our TCF Culture and making it more visible for our Sesame members and our employees, we have undertaken a number of new activities to reinforce our existing TCF practices.
For our Sesame members these include;
- Designing new TCF training modules for Sesame members as part of their Induction course;
- Delivering a TCF Planning Tool which helps our Sesame Firms set out their TCF strategy;
- Producing TCF specific guidelines for our Sesame members when they are providing you with Financial Advice and products;
- Ensuring that TCF statements are included and promoted in all ‘customer facing documentation’ that can be used as part of the advice process.
For our Staff these include;
- Promoting a positive TCF culture;
- Making our TCF policy statement more visible within our offices and internal websites;
- Allocating TCF responsibilities throughout our Executive Board;
- Communicating regular TCF key message updates;
- Aligning TCF requirements within all staff job descriptions;
- Delivering TCF training to all Sesame Bankhall Staff;
- Conducting regular member and staff TCF surveys, and working on the feedback.
SBG is committed to TCF and to help the FCA in achieving its TCF objectives, that why we place a great deal of importance on providing our Sesame members with the best regulatory, technical and business development support to help them provide an excellent consumer experience to you - the customer.
Remember: you can contact Sesame Bankhall Group with feedback on any area of service that you have received from a Sesame member that you may wish to comment on.
Please email us at [email protected].