TREATING CUSTOMERS FAIRLY (TCF) POLICY
Kinsella Financial Services (Pty) Ltd – FSP 51718
The Financial Lane (Pty) Ltd t/a Kinsella Financial Services – FSP 51688
Hereinafter referred to as the “The FSP”
INTRODUCTION
TCF is a regulatory framework set by the Financial Sector Conduct Authority (FSCA). Its and outcome based regulatory and supervisory approach that shifts the responsibility of protecting consumers from the Regulator to the FSP.
The FSP, TCF objectives should place their customers at the center of their business aiming to achieve the six TCF outcomes in the fullest sense.
THE 6 TCF OUTCOMES
The TCF outcomes are defined by the FSCA as follows:
TCF Outcome 1 – Customers must feel confident that they are dealing with an FSP where TCF is at the core of their culture.
TCF Outcome 2 – Products and Services marketed and sold are designed to meet the needs of identified customer groups and are targeted accordingly.
TCF Outcome 3 – Customers are provided with clear information and kept appropriately informed before, during and after point of sale.
TCF Outcome 4 – Where advice is given, it is suitable and takes account of customer circumstances.
TCF Outcome 5 – Products perform as companies have led customers to expect, and service is of an acceptable standard and as they have been led to expect.
TCF Outcome 6 – Customers do not face unreasonable post-sale barriers when they want to change a product, switch providers, submit a claim or make a complaint.
ACHIEVING OUTCOMES
The TCF Policy governs the way The FSP conducts daily dealings with its customers ensuring that all customers are treated fairly, during all stages of the product life-cycle
and advice process.
Achieving the outcomes include:
Product and Service Design: Products and services are designed to meet customers’ needs with a focus on specific target markets and their unique requirements.
Promotion and Marketing: Appropriate products are marketed to specific target markets,
through clear and fair communications that are not misleading.
Advice: Our advisors are adequately trained to enable them to provide advice that is suitable to the needs of the customer concerned. They act in line with the objectives of TCF and avoid conflicts of interest.
Point-of-sale: We provide clear and fair information to enable customers to make informed
decisions with regards to our products and services. Risks, commitments, limitations and
charges are disclosed at the outset.
Information after point-of-sale: We provide information on an on-going basis to enable both our advisors and customers to monitor whether their needs are being met by the product or service selected.
Complaints and claims handling: We honour representations, assurances and promises that lead to legitimate customer expectations. Legitimate expectations must not be frustrated by unreasonable post-sale barriers. Claims and complaints are handled timeously, fairly and consistently.
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