Brokers must examine Treating Customers Fairly at every step of their business practice, says Professional Partnerships.
Speaking at the Mortgage Business Expo London, Gillian Cardy, principal at Professional Partnerships, gave practical advice for implementing TCF to a full Association of Mortgage Intermediaries seminar theatre.
Cardy advises brokers to examine TCF at every step of business practice from initial contact to after sales follow up.
She says strong documentation in important as it’s the quality of contact staff, product research, cost reminders and recommendation letters.
Brokers own review processes and customer retention strategy are also vital, she says.
Cardy also highlights the importance of being positive.
Where she says brokers should ask questions during a fact find instead of treating the procedure as a necessary evil.
She believes this is one way to ensure clients are retained and know that they are being treated fairly by having their product needs fully understood.
Cardy also says disclaimers for customers insistent of unsuitable products are not enough and that clients should simply be turned away if they will not agree to appropriate alternatives.
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