Treating Customers Fairly (TCF) Policy

Introduction

The FCA’s Treating Customers Fairly (TCF) initiative results from their core Principles for Business, specifically PRIN 6 – “A firm must pay due regard to the interests of its customers and treat them fairly.”

TCF is embedded throughout the FCA’s handbook and they have developed 6 TCF outcomes:

  • Customers can be confident they are dealing with firms where TCF is central to the corporate culture.
  • Products and services marketed and sold in the retail market are designed to meet the needs of identified consumer groups and targeted accordingly.
  • Consumers are provided with clear information and are kept appropriately informed before, during and after the point of sale.
  • Where consumers receive advice, the advice is suitable and takes account of their circumstances.
  • Consumers are provided with products that perform as firms have led them to expect and the associated service is both of an acceptable standard and as they have been led to expect.
  • Consumers do not face unreasonable post-sale barriers imposed by firms to change product, switch provider, submit a claim or make a complaint.

At City Asset Management we are passionate about our commitment to Treating Customers Fairly and this policy has been designed to provide an outline of how we go about this commitment.

Our Mission Statement

To preserve and enhance our clients wealth with creative and responsible management of their portfolios through a comprehensive understanding of their total financial circumstances and objectives.

Embedding TCF principles throughout City Asset Management

  • Adviser and Staff Training and Competence – We ensure that all advisers and staff are appropriately versed on all of the fundamental principles of TCF. In addition, where applicable, advisers and staff are comprehensively trained in order to suitably advise on and efficiently provide our services. We ensure that all TCF training is kept up to date in order to take account of market and regulatory changes.
    We operate a robust Training and Competence Scheme. This is to ensure that all of our advisers and staff achieve the necessary qualifications and training in order to carry out their job functions with the required competence level. Within our Training and Competence Scheme we implement stringent monitoring and assessment of our advisers so we can be certain that they remain competent for their respective duties.
  • Communication – All communications with customers will be made in an open and transparent manner.
  • Customer Service – We have in place set service standards for our customers so they can be sure of the service level to expect from us.
  • Suitability – All clients will be correctly classified to ensure they are offered the correct level of protection. All recommendations made to our customers will be suitable to their requirements and their investment objectives. In addition, all customers will be made aware and clearly understand the risks inherent with any service or product offered.
  • Management Information (MI) – We use MI to ensure that our TCF commitment is being met. Good MI enables the management and directors of City Asset Management to make informed business decisions in the best interests of its customers. Good MI should be accurate, timely, relevant and consistent. In this vein City Asset Management’s compliance department produce a monthly MI report which is reviewed at a monthly meeting by senior managers and directors. This MI report is made available to all directors on a monthly basis and discussed further at the monthly board meeting. Other MI reporting, including compliance reporting is produced throughout the firm.
  • Policies and Procedures – City Asset Management has in operation a significant number of policies and procedures designed to manage any conflicts of interest which may arise in our fair treatment of customers. The following list is an indication and by no means exhaustive.
  • Personal Account Dealing Policy – A full Company policy is in operation and is applicable to all advisers and staff. Any dealing undertaken by staff and advisers which may give rise to a conflict is prevented.
  • Corporate hospitality and gifts Policy – A full Company policy is in operation and is applicable to all advisers and staff. Any corporate hospitality and gifts are to be declared to the Company’s compliance department. No instances of accepting a gift or hospitality whereby it gives rise to a conflict with one or all of our customers will be permitted.
  • Compliance Manual – The Company has a detailed Compliance Manual in circulation and forms part of all adviser and staff training.
  • Privacy Policy – We treat Customer privacy extremely seriously and have in a place a comprehensive policy which complies with all aspects of the Data Protection Act 1998.
  • Financial Promotions – When we issue any form of financial promotion material we undertake stringent checks to ensure that it is fair, clear and not misleading and that is it issued to customers only for whom it is potentially suitable. All associated risks are always clearly identified.
  • Conflicts of Interest Policy – Any potential conflicts between the firm and its customers and between customers is identified, recorded on our conflicts register and managed accordingly.
  • Best Execution and Order Execution policies – We will always strive to achieve the best outcome for our customers taking into account the various “Execution factors”.
  • Complaints - City Asset Management strives to provide the very best level of customer service. We deal with customer complaints in a fair and objective way including compensation where necessary. All complaints are recorded by our Compliance Department and reported and analysed in Company MI and Board meetings. We have implemented a separate complaints policy.

Summary

The majority of the above TCF policy is longstanding practice throughout City Asset Management however we acknowledge that TCF is an ever developing and continuous process so we are constantly reviewing our policies and procedures to ensure that TCF remains of paramount importance.

We regularly undertake consultation with our customers in the form of feedback surveys so we are provided with material MI to help us improve our service. In addition we welcome any ad hoc feedback from clients as to how we can improve our service.


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Important Information and Risk Warnings

The company is authorised and regulated by the Financial Conduct Authority (FCA) ensuring that its conduct and practices are governed by the rules and principles of the FCA. By accessing these pages you shall be deemed to accept and agree to be bound by the terms of this notice. Nothing in this site should be regarded as an offer or solicitation to conduct investment business or buy or sell any investment, nor does it constitute any form of personal recommendation.

Nature of Advice

For the purposes of the Retail Distribution Review (RDR), City Asset Management offers Restricted Advice. This means that we will advise and make a recommendation for you after we have assessed your needs , but we may only offer advice on limited types of products, or products from one company or a limited number of companies. For example, we may only recommend our own in-house investment products and services.

Risk Warnings

The value of investments and the income arising from them, can go down as well as up, and is not guaranteed, which means that an investor may not get back what they invested. Past performance is not necessarily a guide to future performance. Changes in exchange rates may also cause an investment to fluctuate in value. Levels of taxations depend on an investor's individual circumstances and the value of any applicable tax reliefs.Any information contained within this website should not be deemed to constitute investment advice and should not be relied upon as the basis for a decision to enter into a transaction, or as the basis for any financial or investment decision. Investors should always seek professional advice in regard to the suitability of any investment. City Asset Management accepts no liability for any losses or consequential loss incurred by investors acting upon any information contained within this website.

Opinions given within this website are effective from the date uploaded but may be subject to change without notice.

The Financial Conduct Authority does not regulate tax advice, trusts, or offshore investments.

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