Outcome 1
Consumers can be confident that they are dealing with Firms where the fair treatment of customers is central to the corporate culture.
Clients are made aware at the outset, both verbally and in writing as contained in the Terms of Business, that the firm is remunerated directly by the client for advice and service delivered. Fees are charged quarterly in arrears meaning that if we do not provide the advice and service promised, we will not get paid. None of our remuneration comes from the sale of financial products thus removing any possibility of commission bias and ensuring that our advice is genuinely impartial.
The service standards as set out in the Terms of Business apply equally to all clients. The client bank is not ‘segmented’ because all wealth management clients have equal value to the firm. Fees are based upon a percentage of assets managed. Although the amount paid to us by clients might vary because of portfolio size, the percentage does not and all clients receive the same level of advice and service.
Since the firm was established in 2001, we have only received one complaint. This was referred to independent adjudication and was not upheld.
Our M.I (Management Information system – principally 1st) is geared toward regular customer service and contact as evidenced by the diary system which alerts the adviser and support team to future important events such as pension contributions, maturing policies etc..