Our regulator, the Financial Services Authority(FSA), has decided to make Treating Customers Fairly (TCF) central to the delivery of the retail regulatory agenda as well as being a key part of an industry move to principles-based regulation.The FSA regulatory agenda aims to ensure an efficient and effective market and thereby help consumers achieve a fair deal and through their TCF work to deliver improved outcomes for retail consumers.

Six consumer outcomes have been defined which explain what they require TCF to achieve for consumers.

Outcome 1: Consumers can be confident that they are dealing with firms where the fair treatment of customers is central to the corporate culture;

Outcome 2: Products and services marketed and sold in the retail market are designed to meet the needs of identified consumer groups and are targeted accordingly;

Outcome 3: Consumers are provided with clear information and are kept appropriately informed before, during and after the point of sale;

Outcome 4: Where consumers receive advice, the advice is suitable and takes account of their circumstances;

Outcome 5: 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;

Outcome 6: consumers do not face unreasonable post-sale barriers imposed by firms to change product, switch provider, submit a claim or make a complaint.

FTW(IFA) Ltd has embraced this move to define fairness for clients and have carried out the recommended internal assessments culminating in a comprehensive feedback / questionnaire for clients to complete to comment on our service.