In the modern financial services sector, it is an absolute priority that compliance is at the heart of any business model.
undertake compliance services for many areas of the industry, including enforcement work. Unusually, they have provided Blue Sky with an evaluation of how we meet the FCA’s Treating Customers Fairly (TCF) requirements with a particular emphasis on six main outcomes.
Hopefully this will help you make an informed decision to contact and ultimately work with Blue Sky.
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 5: Consumers are provided with products that perform as firms have led them to expect, and the associated service is of an acceptable standard and as they have been led to expect.
The well written suitability reports and the recommendation of main stream financial services companies and products should mean the policies and services should perform to the expectations raised.
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.
None of the file reviews have demonstrated any post sale barriers, or that there would be grounds for a valid complaint to be upheld at the Ombudsman. From the compliance meetings Thistle has attended there is an attitude at Blue Sky of putting clients’ interests first. Thistle is confident the client base would not encounter any issues with switching provider or pursuing a complaint.
This is the opinion of Thistle Initiatives on 28.07.2015. Thistle Initiatives Limited does not accept liability for a prospective client choosing to follow any financial advice given by Blue Sky Financial Planning. These comments are not to be relied upon to select an independent financial advisor.
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