Treating Customers Fairly Policy

We value our customers and treat them fairly by providing a professional service and sell them products that fit their needs. We have embedded treating customers fairly (TCF) principles within our business and our service. V4B Ltd believe TCF is more than just a policy, but it is about establishing a culture of fairness throughout the business. The TCS Policy sets out the responsibilities for the fair treatment of customers and demonstrate how the Company continually assesses how it treats customers fairly.

What do we do as a business to support TCF and ensure desired outcomes?

V4B Ltd ensure that the business and its staff are supporting TCF by;

  • Products and services we offer – We ensure that the products and services we offer are suitable for our current and potential customer. We monitor the industry for new products or services that we can offer that would compliment our current services. Whilst offering information on what products/services we offer we will ensure that only those pertinent and affordable to the customer are explained.
  • Marketing and Promotions – We ensure that all marketing or financial promotions we create and/or distribute are clear, fair and not mis-leasing. We ensure this is ahered to by having a clear checklist for the Marketing team to follow on what should be included in any promotions, compliance team spot checking marketing materials and ensuring that all staff confirm details with the customer which may impact the decision or outcome.
  • Monitoring the end results – When a deal is completed customers are offered the opportunity to advise us on their journey with us. Customer Feedback is important is it a clear indication on what if anything needs improvement or amendment.
  • Management Information – Compliance MI’s are completed on a monthly basis and discussed amongst the board. This includes but is not limited to information on sales targets and achievement, complaints, cancellations and staff performance. During these meetings any amendments to our services, products or procedures will be determined.

What are V4B Ltd TCF commitments?

V4B Ltd ensure that all staff follow the below commitments to ensure TCF is managed:

  1. We explain key attributes of products and make sure that our documentation and advertising is clear, easy to understand and is not misleading
  2. We design our marketing campaigns and literature so that the key messages are clear, balanced, and useful for our target customer segments
  3. We regularly review our sales activities to ensure that we are selling products and services that meet the needs of our customers
  4. Where a customer complains about our service, we treat their complaint seriously and positively. Our responses are clear and easy to understand
  5. We use data to monitor to improve our customer service.

What are FCA Principles?

FCA has a number of principles which we must adhere to. Principle 6 is directly associated to TCF however a number of other principles apply to TCF

  • Principle 1: A firm must conduct its business with integrity;
  • Principle 6: A firm must pay due regard to the interests of its customers and treat them fairly
  • Principle 7: A firm must pay due regard to the information needs of its clients and communicate information to them in a way that is clear, fair and not misleading;
  • Principle 8: A firm must manage conflicts of interest fairly, both between itself and its customers and between a customer and another client;
  • Principle 9: A firm must take reasonable care to ensure the suitability of its advice and discretionary decisions for any customer who is entitled to rely upon its judgment.

What is V4B Ltd desired outcome?

The FCA has defined the following TCF outcomes as critical for the fair treatment of customer:

  1. Consumers can be confident that they are dealing with V4B Ltd and are treated fairly
  2. Products marketed are designed to meet the needs of our customers
  3. Customers are provided with clear information and kept appropriately informed before, during and after the point of sale
  4. Customers are satisfied that advice received is suitable and takes account of their circumstances
  5. Customers are satisfied with the products (financial packages) that perform as V4B have led them to expect
  6. Customers should not face unreasonable post-sale changes to our product