Treating Customers Fairly

Interest free credit will either be provided by V12 Retail Finance, or by Hitachi Capital Consumer Finance who are authorised and regulated by the Financial Conduct Authority (FCA). All firms regulated by the FCA are required to support the FCA Sourcebook’s principle that a firm ‘must pay due regard to the interests of its customers and treat them fairly’.

The Treating Customers Fairly (TCF) policy aims to:

• Help customers fully understand the features, benefits, risks and cost of the financial products they buy
• Minimise the sale of unsuitable products by encouraging best practice before, during and after a sale

Designed to ensure consumer confidence, the FCA has outlined six core outcomes that will result from the TCF initiative:

• 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 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 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

At Beaverbrooks, we fully support the Treating Customers Fairly initiative which is in line with our own commitment to enriching lives by promoting responsible and ethical practices throughout our business, our employees and our business partners.