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IFS School of Finance calls on brokers to take TCF qualification

The IFS School of Finance has called on financial advisers to consider gaining a qualification in Treating Customers Fairly to ensure they meet the Financial Services Authority’s expectations.

The suggestion comes as the FSA imposed a substantial fine on a firm of financial advisers for failing to treat their customers fairly.

An IFA network in Bristol were today fined £42,000 for complaints handling failings over an 18-month period.

The firm failed to treat its customers fairly because it was not handling complaints in good time.

In addition, it did not monitor its staff sufficiently or keep appropriate training and competence records.

Margaret Cole, director of enforcement at the FSA, says: “All firms should take regulation and their regulatory responsibilities seriously.

“ We have been very clear that firms are accountable for ensuring this is done and that appropriate systems are both implemented and maintained.”

Mark Roberts, head of financial regulation at the IFS School of Finance, says: “Organisations need to implement TCF strategies that will satisfy both regulatory and customer expectations and gaining rigorous and respected qualifications such as the Certificate in Regulated Customer Care can help achieve this.”


Good news for equity release clients

Some welcome news this week from Prudential, which has announced that it is dropping the interest rate on its standard lifetime mortgage product with immediate effect.

MI online service offers ARs customised websites

Mortgage Intelligence has launched an online service that gives its app-ointed representatives the chance to have customised websites.Each website will be custom-built to members’ branding specifications and will include a jargon buster, a mortgage calculator and contact forms for clients to leave their details.Sally Laker, managing director of MI, says: “Today it is essential for […] unveils recruitment drive has revealed plans to double its mortgage consultancy team. The price comparison site, which is rumoured to be on the verge of floatation, currently has 25 vacancies available for CeMap qualified advisers.The vacancies are for both business-to-business roles within Mortgage 2000 and for business-to-consumer roles as part of the customer assistance team at the […]

Skipton appoints Peter Hales as non-executive director

Skipton has appointed Peter Hales as a non-executive director.Hales started his career in the insurance and financial services industry when he joined General Accident in 1968. He spent his career building and growing distribution, rising to sales and marketing director of Norwich Union Life.During the last 10 years, Hales played a leading role in the […]


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