Treating Customers Fairly

(IO) is vital to your organisation to achieve the 6 outcomes for Treating Customers Fairly.

Intelligent Office is a comprehensive client management system, with the ability to produce extensive Management Information (MI) to meet the 6 outcomes of TCF. There are many areas within the system that will cater for the requirements and we have listed some of these below for your information.

Embed in the Corporate Culture

Consumers can be confident that they are dealing with firms where the fair treatment of customers is central to the corporate culture

• Intelligent-Office implemented with firms branding
• The client gaining access to their information through your website using the Personal Finance Portal
• Ongoing servicing using the task and opportunity management tools
• Audit and compliance trails throughout the servicing of the client
• Servicing your client by producing reports for them either by post, email or access online can offer them instant and regular access to their information
• Lead management tool allows non-clients to be tracked and audited, with letters and tasks stored against the record
• Marketing across all business using the various management information reports and searches throughout IO

Target Product and Services

Products and Services marketed and sold in the retail market are designed to meet the needs of indentified consumers groups and are targeted accordingly.

• Event Lists – pre-defined process of tasks to complete
• Lifecycle Attribute Checks – checks on whether certain fields within IO are completed
• Tasks – event types (automated update of data)
• Plan Purpose – the purpose of the plan for compliance and for the client’s reference
• Recording client objectives within the Fact Find
• Data Protection Act – client list for mail merge taking into account the clients contact preferences.
• Quote Portal Integration with The Exchange and Assureweb including audit of quotations within the client record and the returning and storing of documents

Ensure Clarity through the Process

Consumers are provided with clear information and are kept appropriately informed before, during and after the point of sale.

• Factfind – Core data stored and date stamped and all versions stored
• Terms of Business/IDD – dates stored within the Fact Find to show the client has received the documentation
• Quotes and Research stored against the client record for full history
• Document Storage and Secure Commercial Back Up Procedures
• Suitability Letters using Author, Intelligent Office’s letter writing tool
• Keeping and audit trail of all correspondence within the client record using:
  o Tasks
  o Event Lists
  o Lifecycles
  o Notes – non editable and cannot be deleted

Issue Appropriate Advice

Where customers receive advice, the advice is suitable and takes account of their circumstances.

• All advisers can be gated to ensure that no business can be added onto the system if they are not qualified or authorised to do so
• Risk Based File Checking
• Lifecycles – Different advice types have different lifecycles/ work flows to help meet your new business processes
• Management Information for compliance
• Fact Find and Attitude to Risk, Asset Models
• Financial Planning
• Fund Analysis

Set and Maintain Correct Expectations

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 left to expect.

• Client Portal – valuations, Fact Find, Portfolio Report
• Asset Models and Risking Profiling
• WRAP and SIPP functionality
• Document Storage
• KFD’s stored against the client record within the Quotes section
• Logging all client contact via tasks to demonstrate where youhave communicated change
• Log Product Performance – Fund Analysis

Avoid Post Sales Pressures

Consumers do not face unreasonable post-sale barriers imposed by firms to change product, switch provider, submit a claim or make a complaint.

• Compliance Risk Based File Checking Tools
• Ability to record Complaints and Breaches
• Gating (Risk Competency – Product and Adviser)
• Storing of Adviser Qualifications
• Document Management
• MI Reporting

Related Links

• Retail Distribution Review