Vehicle Contracts believes that conducting business in a way that is client focused is fundamental to its activities as a regulated firm in accordance with FCA Principle 6 - “A firm must pay due regard to the interests of its customers and treat them fairly”
In consequence the firm is committed to the FSA’s Treating Customers Fairly (TCF) initiative and aims to ensure that its standards, systems, controls and ethos comply with these requirements. The key personnel in charge of this strategy are the Directors ( Rob Harris and Geoff Phillips)
Our standards of business are aligned to the regulatory principle of Treating Customers Fairly (TCF) and will deliver the following outcomes:
Outcome 1: Customers can be confident that they are dealing with a company where the fair treatment of customers is central to its culture.
Outcome 2: Products are designed to meet the needs of identified customer groups and are targeted accordingly.
Outcome 3: Customers are provided with clear information and are kept appropriately informed before, during and after the point of sale.
Outcome 4: Customers receive advice that is suitable and takes account of their circumstances.
Outcome 5: Customers are provided with products that perform as they have been led to expect and the associated service is both of an acceptable standard and as they have been led to expect.
Outcome 6: Customers do not face unreasonable post-sale barriers imposed to change product, switch provider, submit a claim or make a complaint. We have set out below how we aim to ensure these principles are embedded in our approach to dealing with our customers.
TCF1
We must always ensure that our employees are aware of, and adhere to, our Treating Customers
Fairly (TCF) Policy.
TCF2
The Compliance Director will ensure that due consideration is given to TCF matters and attend
relevant management meetings, where changes to strategy, policy and process are discussed
TCF3
In order to ensure our clients receive suitable advice, advisers must ensure they fully understand
their needs and objectives based on a formal analysis of their personal and financial circumstances.
TCF4
We must keep clients fully informed in a clear and fair manner that is unambiguous and not
misleading, before, during and after the point of advice and/or sale.
TCF5
We must deliver services with clarity and transparency.
TCF6
We must ensure that clients understand any risks associated with the services offered.
TCF7
Whilst is accepted that we will endeavour to avoid mistakes where possible, we are committed to
moving quickly to correct them
TCF8
The company and its individuals will not make any decisions that would knowingly lead to a risk of
poor customer outcomes.
TCF9
All employees of the company must adhere to our Conflict of Interest Policy, and if there is a conflict
of interest, we will inform our clients as soon as possible once we become aware of it and manage
that conflict by putting our clients' interests before our own.
TCF10
Training at induction and subsequent refresher training and development will be undertaken.
TCF11
All employees of the company must adhere to the Remuneration policy which is designed to ensure
that our remuneration practices are consistent with our aims of delivering fair outcomes for our
clients.
TCF12
We ensure there are no unreasonable barriers over which we have control for clients to change
product, switch provider, submit a claim or make a complaint at any time.
TCF13
If we receive any complaints, we will deal with them in accordance with regulatory rules and
guidelines.
