TCFi

1. How seriously does your firm take TCF?

We have a clear TCF policy that is communicated to all our stakeholders
We are taking the 2008 TCF deadlines seriously but there is still work to be done
We are lagging behind and concerned about the 2008 TCF deadlines
TCF is an unnecessary regulatory framework that we will do as little as possible to adhere to
We have ignored TCF to date
Don't know / No answer

2. What stage has your firm reached with its TCF arrangements?

We are embedding TCF across the firm
We are just completing the gathering of management information to evidence our TCF performance
We have completed a gap analysis to show where we currently sit within the improved customer outcomes
We have yet to complete our gap analysis to show where we sit within the improved customer outcomes
Little work has been undertaken on TCF to date
Don't know / No answer

3. What is your firm's attitude on the balance between treating customers fairly and maximising profits for shareholders or members?

Following TCF principles is good business practice and will not hurt profits
TCF arrangements are modified only where there is a serious risk to profits
Genuine attempt to balance TCF and profits
TCF adopted only where there is no adverse impact on profits
The only TCF arrangements made are those necessary to avoid regulatory punishment
Don't know / No answer

4. What is the balance between looking after existing customers and recruiting new ones?

5. How seriously does your firm's senior management take TCF?

Senior management lead our TCF initiative
Senior management have delegated TCF to middle management to lead but remain active and supportive
Senior management little involvement with our TCF initiative
Senior management never consider TCF

6. When the firm launches a new product, what is the balance between meeting customer needs and satisfying the firm's profit targets?

Firm bends over backwards to put customer considerations before profit targets
Where there is a choice, firm puts customer considerations ahead of profit targets
Equal balance between customer needs and profit targets
Where there is a choice, firm puts profits ahead of customer considerations
Profit targets are always paramount
Don't know / No answer

7. What consumer research does your firm do before launching a new product?

Always commissions independent consumer research before launch
Usually commissions independent consumer research before launch
Conducts research before launch but this may not involve independent researchers
Occasionally conducts some consumer research but nature and extent varies
Rarely or never gets consumer research
Don't know / No answer

8. How customer-oriented are product publications such as sales brochures, Key Facts Documents and illustrations?

Always easy for customers to read and understand
Usually easy for customers to read and understand
Standards vary between products or documents
Sometimes hard for customers to read or understand
Often hard for customers to read or understand
Don't know / No answer

9. What are your firm's arrangements for measuring customer satisfaction with their products?

We undertake a continuous survey programme on a wide representative sample of customer base
We undertake surveys at least once a year
We undertake occasional surveys less than once a year
We undertake surveys very rarely
Little or no research has ever been conducted
Don't know / No answer

10. What are your firm's arrangements for measuring customer satisfaction with their customer service?

We undertake a continuous survey programme on a wide representative sample of customer base
We undertake surveys at least once a year
We undertake occasional surveys less than once a year
We undertake surveys very rarely
Little or no research has ever been conducted
Don't know / No answer

11. How much effort does your firm make to ensure staff understand its TCF policy?

All staff have received TCF training and have specific TCF objectives in their roles
We are still undertaking TCF training and the incorporation of TCF objectives in all roles
All staff have TCF guidance notes
We are in the process of issuing TCF guidance notes to all staff
We have issued little or no formal TCF guidance for any staff
Don't know / No answer

12. Does your firm employ people with appropriate skills and attitudes in customer-facing roles?

13. How does your firm measure staff satisfaction?

All staff surveyed at least every year
Representative sample surveyed at least every year
Occasional survey of some or all staff
Occasional informal sounding-out
No real attempts to measure staff satisfaction
Don't know / No answer

14. How hard does your firm try to encourage customers to contact them for information or advice?

Regular communications to encourage contact from customers
Occasional encouragement sent to customers
No proactive effort but enquiries welcomed
Enquiry handling arrangements are adequate
Prefers customers to approach IFAs or other agencies first
Don't know / No answer

15. Does your firm treat claims as opportunities to help customers or threats to the firm's assets?

Firm tries to make it easy for customers to claim and receive benefits
Firm tries not to put obstacles in way of customers making claims
Firm treats claims with same priority as other customer communications
Firm does not make it easy for customers to make and succeed with claims
Firm uses all legitimate reasons for refusing claims
Don't know / No answer

16. How does your firm treat complaints?

Seen as a valuable source of information to help improve customer service
Takes all complaints seriously and looks to resolve them efficiently
Looks to handle all complaints in line with regulatory requirements
Occasionally falls below best practice standards of handling complaints
Allocates only the bare minimum resources
Don't know / No answer

17. How is your firm handling its TCF initiative?

We have a well established project team across the organisation that is being lead by the Board
We have used external consultants to assess our TCF performance
TCF has been delegated to the Compliance Department
Some initial work on TCF has been undertaken but lacks impetus
We will react to FSA inspections and reviews
Don't know / No answer

18. Is individual incentive and reward balanced in respect of TCF and other, potentially conflicting, objectives?

Objectives such as profit, income and growth are balanced against TCF objectives
There is a small risk that objectives such as profit, income and growth are set to the detriment of TCF
There is a large risk that objectives such as profit, income and growth are set to the detriment of TCF
No conscious consideration is given to TCF in setting objectives
There is a conscious decision not to consider TCF in setting objectives
Don't know / No answer

19. What type of firm do you work for?

20. What sector does your firm predominantly work in?

TCF Index

Firm's Position