Regulatory
Treating Customers Fairly (TCF) Policy
Central Advisors (Pty) Ltd.
Introduction
TCF is a regulatory framework set by the Financial Sector Conduct Authority (FSCA). It is an outcome-based regulatory and supervisory approach that shifts the responsibility of protecting consumers from the Regulator to the FSP.
Central Advisors' TCF objectives place customers at the centre of our business, aiming to achieve the six TCF outcomes in the fullest sense.
The Six TCF Outcomes
The TCF outcomes are defined by the FSCA as follows:
TCF Outcome 1 — Customers must feel confident that they are dealing with an FSP where TCF is at the core of their culture.
TCF Outcome 2 — Products and Services marketed and sold are designed to meet the needs of identified customer groups and are targeted accordingly.
TCF Outcome 3 — Customers are provided with clear information and kept appropriately informed before, during and after point of sale.
TCF Outcome 4 — Where advice is given, it is suitable and takes account of customer circumstances.
TCF Outcome 5 — Products perform as companies have led customers to expect, and service is of an acceptable standard and as they have been led to expect.
TCF Outcome 6 — Customers do not face unreasonable post-sale barriers when they want to change a product, switch providers, submit a claim or make a complaint.
Achieving Outcomes
The TCF Policy governs the way Central Advisors conducts daily dealings with its customers, ensuring that all customers are treated fairly during all stages of the product life-cycle and advice process.
Achieving the outcomes includes:
Product and Service Design
Products and services are designed to meet customers' needs with a focus on specific target markets and their unique requirements.
Promotion and Marketing
Appropriate products are marketed to specific target markets, through clear and fair communications that are not misleading.
Advice
Our advisors are adequately trained to enable them to provide advice that is suitable to the needs of the customer concerned. They act in line with the objectives of TCF and avoid conflicts of interest.
Point-of-sale
We provide clear and fair information to enable customers to make informed decisions with regards to our products and services. Risks, commitments, limitations and charges are disclosed at the outset.
Information after point-of-sale
We provide information on an on-going basis to enable both our advisors and customers to monitor whether their needs are being met by the product or service selected.
Complaints and claims handling
We honour representations, assurances and promises that lead to legitimate customer expectations. Legitimate expectations must not be frustrated by unreasonable post-sale barriers. Claims and complaints are handled timeously, fairly and consistently.
Your feedback matters.
Our customers' feedback is important to us. We want to know whether your experience with us lives up to your expectations. If you have any feedback, let us know — your views are vital to helping us improve our service in the future.