Client Care - Level 1

Question 1

What are the guidelines for treating customers fairly

Answer 1

FCA - states all firms must be able to show fair treatment is consistently at the heart of their business model.

Question 2

What are the 11 principles of treating customers fairly

Answer 2

11 Principles to adhere to - we adopt it because so many of our clients do.

Integrity - 1
Skill care and diligence - 2 
Management and control - 3
Financial Prudence - 4
Market Conduct - 5
Customers interests - 6
Communication with clients - 7
Conflicts of interest - 8 
Customers:relationships of trust -9
Clients assets - 10
Relations with regulators -11

Question 3

What are the 6 outcomes that firms should strive to achieve to ensure fair treatment of customer?

Answer 3

Outcome 1 - Confident that firm treats customers fairly
Outcome 2 - Products/services market are designed to meet needs of clients
Outcome 3 - Consumers get clear information before, during and after “sale”
Outcome 4 - Advice given is suitable
Outcome 5 - Service performs as the consumer was led to expect
Outcome 6 - Consumers don’t face unreasonable post sales barriers to change product/make a complaint

Question 4

What is the Countrywide CHP?

Answer 4

CHP -
1. Advise the customer to provide us with as much info as possible in respect of complaint. Can write, e-mail, ring.

2. We acknowledge complaint within 5 days and provide summary of actions. Contact and ref no provided. Confirm outcome of investigations within 4 weeks.
3. May do a physical inspection if necessary. We advise within 10 days. If needed an independent loss adjuster will be instructed at our cost to assist in reaching a resolution.
4. If unhappy with the outcome, then this can be raised further with a senior member of the Technical Services department where a further review of the original complaint.

If still not resolved, it can be referred to the CEDR within a maximum of 12 months.

Question 5

What is a duty of care?

Answer 5

What is duty of care in law of tort?
In tort law, a duty of care is a legal obligation which is imposed on an individual, requiring adherence to a standard of reasonable care while performing any acts that could foreseeably harm others. It is the first element that must be established to proceed with an action in negligence.