Advisers demonstrate TCF adherence through ISO
Many firms may now have TCF policies in place but it is questionable what proportion of these policies are embedded within the firm compared with those that are simply paying lip service to them, says assistance provider
In a stamtent, the firm, Standards International, said: "To fully meet the FSA’s TCF requirements, it is essential that TCF is a fundamental part of the firm’s culture. If a TCF culture truly exists within a firm, then advisers should be living and breathing TCF, not referring to a TCF document if and when challenged.
"However, changing a firm’s culture will not happen overnight. It will take time to challenge existing processes and fully understand and establish the FSA requirements within the
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