Treating Customers Fairly.
Positive Solutions' corporate purpose is to help our clients understand, protect and increase their assets. To achieve this, we must continue to be (and be seen to be) a well managed, financially strong organisation which treats its customers fairly through meeting their needs both in the short and long term. Here we outline Positive Solutions' policy on Treating Customers Fairly. This is fully consistent with our Partnership Code, a framework of values and principles which is adopted by all Positive Solutions Partners.
Who are our customers?
When our regulator, the Financial Services Authority (FSA) refers to Treating Customers Fairly, it is focussing on the "end customer", therefore our private clients are our customers.
How do we define "fairness"?
People have different views on what is "fair" and this can change with circumstances. It will also change over time - and where appropriate, we may treat some groups or future generations of clients differently from those who purchased our services from us in the past. We have agreed on a set of principles for all of us to follow but with flexibility. This is very much in line with the FSA's approach. Rather than specifying detailed rules, they too have set out some high level principles supported by guidance and case studies demonstrating good practice.
Our Principles
We will ensure that fair treatment of our clients is at the core of the way in which we run our business. We will do this by:
- Developing and promoting propositions and services which meet the needs of our clients
- Giving independent financial advice and acting on the client's behalf at all times
- Providing our clients with clear, timely information and good service throughout our relationship with them
- Recognising that frequently both we and product providers have a shared relationship with clients
- Ensuring the behaviour of our Partners help us treat our customers fairly
- Ensuring all of our Partners have the tools and training to deliver good service to our clients
- Continually measuring and reviewing our performance
Applying the Principles
The Positive Solutions Board will consider all parts of the lifecycle of their relationship with customers including each of the following to an appropriate degree:
- Marketing and promotions
- Sales and advice
- Ongoing servicing
- Complaints handling