Dickson Financial Services - Treating Customers Fairly


Treating Customers Fairly

We have adopted a culture for 'Treating Customers Fairly' and apply those principles to our advice, our client dealings, and our communications in our business.

Promotional Material

All marketing material to be written in plain English - wherever possible terminology and industry jargon will be fully explained and if necessary by means of a glossary - this may include leaflets, posters, direct mail, advertisements and other promotional materials.

All promotional literature must make it clear who the product is most suitable for, and these communications must be appropriately positioned/targeted to the intended recipients.

Please note:

  • All material must carry the required risk warnings as per FCA guidelines and regulations.
  • All restrictions/exclusions/opt-ins and opt-outs associated with the product must be clearly presented
  • All the charges, including any early redemption charges, will be made clear
  • Any APR quoted must be an accurate reflection of the costs of the product(s) being promoted
  • The promotional material should be tested with at least one 'non-expert', and then the Compliance Officer must also review and approve before becoming operational

    Our Advice and Sales Process

    At the point of first contact leading to advice our IFA's will disclose our regulatory status and introduce the following documents (these will also be provided at the first opportunity)

  • Our latest 'Keyfacts' document about our services and regulatory status - our Initial Disclosure Document (IDD)
  • Menu of Charges
  • Terms of Business Agreement (TOBA)
  • At first meeting the Adviser will provide a current business card with full contact details

    It is a part of our regular process for engaging with clients to complete a Fact Find as either the establishment of our record keeping system or as an update to our records of their personal circumstances, affordability and the customer's attitude to risk at that time.

    In presenting the documents to the customer, we will record on their file which documents we have provided, and ask the customer whether they understand their contents.We will record and respond to any questions to what may arise.

    Dickson Financial Services Ltd will endeavour to ensure our staff understand the products and customer groups that they are working with and we will also ensure that adequate training is provided to our staff for the products we are offering.

    When it is appropriate to discuss several product options with the customer, we will ensure that they understand which product we recommend and why - specifically ensuring that the customer understands the benefits and risks of the product they're buying and the associated costs of that product.

    Client Contact - upkeep of information during the sales and after-sales processes.

    File and keep a copy in retrievable formats of all correspondence with clients in either hard copy or electronic formats, including our master file copies of our standard introductory documentation (as specified above)

    We maintain a record of client contact with specific file notes for all significant telephone, communication and meeting conversations - these are held as part of the client's file.

    We operate a follow up process for keeping in contact with clients and prospects, and from time to time will seek customer feedback on service related issues.

    Awareness of TCF - Staff Training

    Outstanding customer service is an underlying foundation of the company's values.

    Our experience is that first class business is built on referrals, which will only result from our customers to be delighted with our product offering and service performance.

    All staff are trained and regularly reminded of our customer service principles.

    We encourage and record all Continuous Professional Development activities.

    Product training is frequently undertaken with the scheme providers.

    All IFAs and Advisers are expected to maintain a sufficient level of awareness of the market, and product availability - maintaining an upkeep of knowledge by applying time to reading and research of scheme provider literature, newsletters and trade press.

    Product developments and any issues arising are discussed as an Agenda item at our regular meetings.

    Staff Remuneration and Incentives

    All staff are salaried and consistent professional customer service performance is assessed at the time of annual reviews and any team bonuses that may be paid.

    Management Information

  • Our management information and reporting provides monitoring and measurements of service standards and key indicators.
  • These include sales, product and commission type, staff activities, transactions, completions, cancellations and complaints.
  • This information and supporting data is circulated, discussed and reviewed in regular meetings.

    Complaint handling

    We have an established complaint handling procedure, developed in accordance with the FCA's guidelines.

    All members of staff are trained to recognise and register a customer complaint, and indeed we try to identify when a complaint may be arising for our earliest corrective action. All complaints are centrally logged in our complaints register and categorised by product and nature of complaint.

    Senior Management regularly monitor the progress of complaints and review of the register - considering improvements for progressive change to our procedures and/or operating standards.