Treating Customers Fairly
BN Financial Solutions and our Principal, Key2Lease, are dedicated to treating customers fairly and putting our customers at the heart of everything we do. We are committed to ensuring that the FCA principle of Treating Customers Fairly (TCF) is applied to all areas of our day to day activities. As a result, TCF an integral part of our culture and is embedded in all aspects of business and values.
What does Treating Customer Fairly (TCF) Mean?
The TCF initiate aims to deliver six outcomes.
Consumers can be confident that they are dealing with firms where the fair treatment of customers is central to the corporate culture.
Products and services marketed and sold in the retail market are designed to meet the needs of identified consumer groups and are targeted accordingly.
Consumers are provided with clear information and are kept appropriately informed before, during and after the point of sale.
Where consumers receive advice, the advice is suitable and takes account of their circumstances.
Consumers are provided with products that perform as firms have led them to expect, and the associated service is both of an acceptable standard and as they have been led to expect.
Consumers do not face unreasonable post-sale barriers imposed by firms to change product, switch provider, submit a claim or make a complaint.
TCF is not just about offering the same rates, products and services to all customers or treating every customer the same. It is about you as an individual having choice. You should be offered clear and transparent information, have confidence in the providers you are buying from and be offered suitable products that are appropriate for your needs, based on your individual circumstances. You should have no barriers and know the products and services will work exactly how you were led to believe.
Ways we meet these requirements in the day to day running of our business
- We continually aim to understand the needs of our clients
- We ensure that the marketing of our products is appropriately targeted, clear, not misleading and highlights the risks/conditions as well as the key features/benefits of a product
- We make certain our clients understand the risks associated with our services at the outset of an instruction
- We keep our clients fully informed in a clear and fair manner that is unambiguous and not misleading
- We ensure our services are delivered with clarity and transparency and do not contain hidden conditions or rely on complex technical definitions
- Any advice provided will be appropriate and take into account the customer's individual needs and circumstances
- We take our clients' privacy seriously and ensure that our staff are aware of and follow rules in relation to data protection to ensure that clients' details are kept secure and confidential
- We take any complaint seriously and will deal with any complaints promptly and make improvements to our operations where required
What is expected of you?
In order to deliver the best possible service, we rely on you (the Customer) to also play your part. An efficient service relies as much on capable and confident consumers as it does on the firms who are committed to treating customers fairly. When dealing with us, we expect you to;
- Engage with us properly and provide accurate information
- Raise questions if you are uncertain about any aspect of the product or service
- Read advertisements and other material carefully
- Read any suitability letter and ensure that it properly reflects the discussion
- Use cooling off periods to consider whether to go ahead
- Review your financial needs on a regular basis and consider taking further advice when circumstances change
- Acknowledge that some financial products or services being provided may involve market risk for the buyer, such as stock movements and interest rate rises
- Complain to us if you perceive unfair treatment and give us the opportunity to resolve your complaint in a timely manner
If you have a complaint.
Our aim is to provide first class service levels and it is important to us that all complaints are resolved as quickly as possible to the complete satisfaction of our customers.
Key2Lease, Mayden House, Black Horse Drive, Lincoln, LN6 9UJ
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service or the BVRLA.
A copy of our complaints procedure is available upon request or on our website, www.bnfinancialsolutions.co.uk/complaints