Our approach to Treating Customers Fairly
Bluestone Asset Management fully endorses the principles of Treating Customers Fairly (TCF) and believes that it should coincide with our own visions of providing a high standard of service and the highest value to clients.
We are committed to providing a transparent, efficient and professional service which is constantly reviewed to identify areas for improvement
We do not believe in recommending short-term solutions to a short-term need. Our aim is to develop a full investment plan, targeted to achieve our client's financial goals. In many cases, we will anticipate a life-long relationship during which we will protect the interests of our client.
We are committed to ensuring that what we provide is useful to our clients and that we take their views into account when designing, producing and enhancing the service.
We are open and honest in our communications with clients, providing a clear and understandable service with transparent charges.
Treating Customers Fairly
We have a six stage advice process, a copy of which is given to clients at the initial meeting to help provide an insight into the service they should expect.
After sales care is a core value of our philosophy as our adviser and other staff are required to make themselves available to provide assistance and answer any questions clients may have; or if it is outside of their own remit, to arrange for another member of staff to assist.
We provide quarterly, half-yearly or annual Investment Performance Reviews according to individual client’s requirements.
We offer regular review meeting where objectives and financial circumstances are reviewed
We carry out regular reviews of all investment funds recommended to ensure they still meet the criteria laid down for their selection.
Our clients are required to undergo a Risk Tolerance Analysis at least every 2 years.
We aim to provide all information in the clearest manner possible and wherever financial jargon is unavoidable we always explain the terms in plain English.
Process of time value by Bluestone
Where do most of our clients perceive value?
Our Core Principals
- Always placing investor’s needs first
- Keeping detailed records of customer instructions, profile/attitude to risk and of the advice and options given before, during and after a sale. This helps us ensure that we treat our customers fairly and can deal with any complaints that may arise swiftly and fairly
- Carefully managing our administrative procedures and management service to keep costs low for our clients
- Attracting and retaining only high-quality professional staff. We will do our best to ensure that we employ are honest and trustworthy and will also place the best interests of our clients as their prime concern
- Encouraging staff to challenge product providers where they spot inconsistencies, ambiguities or potential unfairness in the product literature or product features
- Encouraging staff and clients alike to recommend improvements to service. Areas of service which are subject to complaint will be reviewed for improvement and the outcome monitored.
- Training our staff on the principles of TCF at all levels and finding ways to encourage non sales staff to implement TCF in their day-to-day business activities.
- Providing access to up-to-date training materials to help all staff to address any gaps in their knowledge and expertise; and ensuring that advisers have thorough training on all products they advise on or sell so that they understand for whom they are and are not suitable.
- Ensuring that staffs are kept up-to-date with relevant training with respect to competence, data protection and other matters which directly affect the quality of service offered to customers.
- Dealing effectively with complaints. We take complaints very seriously. All complaints are recorded and dealt with by the Compliance Officer for Bluestone Asset Management. The Compliance Officer will ensure that each complaint is assessed fairly, promptly and impartially, and in line with FSA deadlines and rules.
Six target outcomes
Our business is our clients and we never forget that. We check clients' understanding of advice at all stages, delivering it in a clear and consistent manner.
We look at all areas of our business on a regular basis to ensure that:
- Clients can be confident that they are dealing with a firm where the fair treatment of clients is central to our firm's culture.
- We consider our customers when promoting new services and products and ensure they are relevant to them.
- Our clients are provided with clear information and we keep them informed before, during and after the point of sale.
- Where advice is provided, we take time to understand our clients' situation and ensure that our advice is suitable and appropriate.
- We meet our clients' expectations, providing them with a level of service and products that are of an acceptable standard.
- Continually measuring and reviewing our performance