Understanding Our Customers and Target Market
We make sure the products we distribute are suitable for the customers we work with. We do this by:
- Assessing the needs, characteristics and financial objectives of our customers.
- Checking your knowledge and experience before presenting product options.
- Identifying and mitigating risks that could cause harm, especially for vulnerable customers.
- Recording and acting on any vulnerabilities we identify so that additional support is provided where needed.
- Aligning our distribution approach with the defined target market strategy for each product.
Product Governance and Fair Value
We want to ensure that the products we offer provide good value and are designed to deliver positive outcomes. To achieve this we:
- Share our assessments and insights where required to support ongoing product monitoring.
- Review our processes to prevent foreseeable harm and manage conflicts of interest responsibly.
Clear Communication and Distribution
We believe customers should be able to make informed decisions with confidence. To support this we:
- Provide information in good time, both before purchase and during the lifetime of the product.
- Make sure all communications are clear, fair and not misleading.
- Tailor the way we explain products based on their complexity and your circumstances.
- Ensure promotional material is accurate and easy to follow.
- Maintain, operate and regularly review our distribution arrangements to ensure they meet customer needs and avoid foreseeable harm.
Customer Support and Care
Supporting customers properly is central to what we do. This means:
- Training our staff to recognise and respond to customers with additional needs or vulnerabilities.
- Removing unnecessary barriers if you want to make changes, raise a query or submit a complaint.
- Offering flexible and responsive service, adapting to your needs.
- Monitoring customer outcomes and improving our approach where necessary.
- Responding to reasonable requests for information promptly so that customers are always supported effectively.
Pricing and Commission Transparency
We are open and transparent about costs and commissions. We:
- Follow the agreed rules around commissions.
- Only vary prices in line with agreed and transparent arrangements.
- Provide clear commission disclosures so you understand how we are paid.
- Regularly review our pricing structures to ensure they remain fair.
Oversight and Monitoring
Our responsibilities continue after you take out a product. We:
- Hold regular reviews to discuss customer feedback, acceptance rates, service levels and any issues raised.
- Regularly review our processes, data and customer feedback to ensure products remain suitable.
- Monitor complaints, cancellations and service performance to resolve issues quickly.
- Use customer insights to adapt and refine how we deliver services.
- Take part in audits and compliance checks when required.
Our Promise to You
By fulfilling these responsibilities, we give you confidence that:
- You are being offered products that meet your needs and represent good value.
- You will always receive information that is clear, honest and timely.
- You will be supported fairly, especially if you have additional needs or face vulnerable circumstances.
Our promise is simple: we put your interests at the heart of everything we do.
