Staff who handle complaints for IFAs and providers will soon be able to take a new complaint handling exam developed by the Institute of Financial Services.The qualification is a joint initiative between the IFS school of finance and outsourcing consultancy Huntswood which specialises in complaint handling. The final syllabus is currently under wraps but provisional work suggests that the exam will include recent major issues in complaint handling, customer segmentation and possible causes of complaints, the regulatory and legislative environment for complaint handling and applying appropriate complaint-handling solutions within a business. It will also look at how complaint handling fits with the FSA’s treating customers fairly initiative. IFS school of finance head of faculty financial regulation and corporate & academic relationship management Mark Roberts says: “As the complaint-handling process comes under greater scrutiny, we felt it was important to provide suitable education for those working in this area. “The new qualification will be ideal for those working in the corporate environment as well as those in smaller firms who are looking to tighten up their procedures.” Technology & Technical consultant Kim North says some of complaint handling should sit within a wider exam although she believes most IFAs are up to speed on the subject, particularly because of years of the threat of fines from the FSA. She says: “Even with Aviva’s redundancies, there are probably 250,000 back-office staff in life and pension companies that need to be tested to handle complaints properly.” The IFS website is www. ifslearning.com.
The ABI has welcomed the FSAs consultation paper which proposes changes to rules for life insurers reserving and capital requirements.The paper CP06/16 Prudential Changes for Insurers is proposing to relax the solvency rules that require life companies to keep huge reserves of capital to mitigate potential losses. If the proposals meet with approval from the […]
With the Pensions White Paper consultation finally drawing to a close this week it has been very difficult to get many pensions stalwarts to talk about anything else.
The Snowdonia fund of funds range from Buckles Investment Services has been added to Canada Life’s onshore platform. The Snowdonia growth, balanced and income fund have attracted over £100m since launch and are already available through AIG Life. Buckles was keen for the Snowdonia funds to be available through Canada Life’s flexible investment bond as […]
Kensington Group is launching into the second charge loan market.Kensington Personal Loans will offer products to borrowers from near prime to unlimited adversity, with criteria such as self-certification up to 90 per cent loan-to-value for clients with arrears, and loan amounts up to £100,000.The products will initially only be available via a small number of […]
By Kunal Desai, head of Indian Equities, Neptune Kunal Desai, manager of the Neptune India Fund, discusses the key drivers of the Indian market’s outperformance and why he expects another rate cut, which will likely further support equities. Read more here Important Information Investment risks The Neptune India Fund may have a high volatility rating […]
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It is likely the increased regulatory scrutiny on fund managers’ value could filter down to advice firms in the future In my last article, I considered the influence a non-executive director could have in challenging an advice firm’s business model in light of the pension transfer issues. Now, in its asset management market study final […]
The financial services industry has failed to find ways of nudging consumers to think about their options at retirement, despite three years of pension freedoms. A panel at the Association of British Insurers retirement conference today lamented the way companies talk to people about pensions and the lack of engagement it inspires. ABI director general […]
The new chief executive of the single financial guidance body can expect a salary of £175,000 a year, according to a job advert posted online. The advert, posted on the Cabinet Office website says applications will close in mid-May with final interviews held in early July. The date for announcing the successful candidate has not […]