Sesame Bankhall Group operates within the UK Financial Services industry, with its core business in the intermediary market, providing support to over 11,000 advisers across the country. The Group brings together the leading network, support service provider and mortgage club, making it the UK’s largest distributor of retail financial advice.
If your adviser is a member of SBG this means you are dealing with a highly qualified and trained individual. It means they adhere to the highest ethical standards, their advice is based on the most up-to-date information and regulations and is focused around your needs.
We know this because we help them to do it. Here's how:
Treating Customers Fairly
Treating Customers Fairly (TCF) remains central to the Financial Conduct Authority‘s (FCA) expectations of any firms’ conduct, and they have recently stated that their vision is
to make financial markets work well so consumers get a fair deal.
Sesame Bankhall Group (SBG) fully supports the FCA’s initiative and believes that the way we do business is critical to our success and the success of our Sesame members, which will in turn, continuously support and lead to successful outcomes for consumers.
As one of the largest distributors of retail financial advice, Sesame Bankhall Group has a huge role to play in leading the way and setting an example of how to Treat Customers Fairly.
SBG’s Company Vision states that;
Together with our advisers, we will make a positive difference to the financial well-being of UK consumers. We will lead by example to become the most recommended, recognised and trusted professional advice brand in Britain.
SBG is committed to ensuring our business operates with integrity, and thatthe interest of customers is at the heart of everything we do. We are constantly working on projects and activities in the background, to helpshape our business strategy and commercial propositions, which in turn helps to give you, ourclients, an excellent position from which to trade compliantly and provide a fair outcome for consumers.
Below is a summary of the Financial Conduct Authority (FCA) TCF outcomes:
- Outcome 1: Consumers can be confident that they are dealing with firms where the fair treatment of customers is central to the corporate culture
- Outcome 2: Products and services marketed and sold in the retail market are designed to meet the needs of identified consumer groups and are targeted accordingly.
- Outcome 3: Consumers are provided with clear information and are kept appropriately informed before, during and after the point of sale.
- Outcome 4: Where consumers receive advice, the advice is suitable and takes account of their circumstances.
- Outcome 5: Consumers are provided with products that perform as firms have led them to expect, and the associated service is of an acceptable standard and as they have been led to expect.
- Outcome 6: Consumers do not face unreasonable post-sale barriers imposed by firms to change product, switch provider, submit a claim or make a complaint.
SBG TCF commitments
As a business and to demonstrate our continued commitment to TCF, SBG will:
1: Always ensure that we have appropriate systems controls and measures to ensure that we are able to deliver TCF outcomes.
2: Expect excellence from all of our people measured in terms of competence, understanding & performance in line with our highly developed good practices on a day to day basis
3: Deliver a great customer experience as well as ensuring the right outcomes and ensuring that the experience and advice we deliver is consistent with our Group TCF Policy.
4: Monitor our TCF Culture and delivery against the TCF outcomes through purposefully designed Management Information and we learn and respond to what our results show us.
5: Embrace feedback from our members and clients, our employees and the end consumer to enable us to continually improve as a business.
6: Ensure that TCF is delivered as part of our strategy, decision making, business practices, policies and procedures to ensure that consumers are treated fairly
7: Work closely with our Sesame members to ensure that we deliver products and services which enable them to deliver best practice, suitable advice and products to the consumer.
View our TCF videos to see how Sesame Bankhall Group fully supports both regulatory drivers; Treating Customers Fairly and Retail Conduct Risk (RCR).
View TCF Exec Video »
View TCF Member video »
All advisers in the UK have to work within the regulations laid down by the Financial Conduct Authority. These can change quickly and frequently, and can be very detailed and complicated.
SBG works closely with the regulator to interpret new rules and policy changes, turning them into specific and clear guidance to help its members ensure they are advising you in a fair and compliant manner.
If your adviser is a Sesame member this means they are an ‘Appointed Representatives’ of Sesame. This means Sesame is ultimately responsible to the regulator for the quality of the advice that Sesame members give, and the onus is therefore on us to check the quality of the advice our members give. If a Sesame adviser is not up to our exacting standards, we terminate the relationship – it’s as simple as that.Being a Sesame member for a financial adviser, therefore, is like a Kite Mark of quality assurance for the advice you will receive.
Bankhall clients are directly authorised which means they are directly responsible to the FCA for the advice they give, however you can be rest assured that they also seek the support and guidance of the Bankhall compliance department and support teams when needed, to ensure they are advising you in a fair and compliant manner.
The best products and prices
Financial Services is a very fast-moving industry. New products emerge all the time and existing ones change constantly.
SBG constantly research, review and rate new and existing financial products, and use our position as the UK’s largest distributor of retail advice to negotiate very best rates on the very best products for your adviser to pass on to you.
Our advisers get access to many exclusive products that are not available elsewhere – not even direct from the providers themselves – making talking to an SBG adviser a must for anyone looking for financial advice.
Access to innovation
In any industry, to develop truly innovative new products, technologies and approaches can take a lot of capital investment – often more than a normal financial advice firm could afford.
Because there are over 5,500 firms within the Sesame Bankhall Group, though, we can, and do, develop these innovations of their behalf.
In 2011 alone we invested more than £2 million in new adviser technology, to be rolled out over the next few years. These innovations will help your adviser to remain competitive, and continue to offer you excellent advice long into the future.
Advisers often have a strong personal relationship with their clients, which can make it awkward for the client when they think there may be an issue with their advice.
If your adviser is a Sesame member, though, you can complain directly to Sesame’s independent complaints team. Governed by a clear process developed from FCA rules, this dedicated team will act as in independent arbiter to work towards a fair and speedy resolution, which can include financial redress where necessary.
Award winning support
All of the above contributes to why, time and again, an SBG company wins industry awards voted for by its industry peers.
Amongst our latest awards are:
- 2013 Mortgage Strategy Awards – Best Network
- 2012 Mortgage Strategy Awards – Best Network
- 2011 Professional Adviser Awards – Best Network
- 2011 Mortgage Strategy Awards – Best Network
- 2010 Money Marketing Financial Services Awards – Best Mortgage Network, Best Network & Support Services Provider
SBG is committed to TCF and to help the FCA in achieving its TCF objectives. That's why we place a great deal of importance on providing our Sesame members and Bankhall clients with the best regulatory, technical and business development support to help them provide an excellent consumer experience to you - the customer.
Remember - you can contact Sesame Bankhall Group with feedback on any area of service that you have received from either a Sesame member or a Bankhall Client Firm that you may wish to comment on.
Please email us at [email protected].