The Financial services is a term used to refer to the services provided by the finance industry. Banks, insurance companies, investment banks and brokerages are examples of the types of firms forming this industry. They provide money and investment and related services.

The Financial Services Authority (FSA) is an independent non-governmental body, given statutory powers by the Financial Services and Markets Act 2000. The FSA are a company limited by guarantee and financed by the financial services industry. The Treasury appoints the FSA Board, which currently consists of a Chairman, a Chief Executive Officer, Managing Directors, and a number of non-executive directors (including a lead non-executive member, the Deputy Chairman). This Board sets the overall policy, but day-to-day decisions and management of the staff are the responsibility of the Executive. The overall aim of the FSA is to promote efficient, orderly and fair markets and to help retail consumers achieve a fair deal. Our course offering is focused towards the mortgage market. In this sector, consumers; is the key word. Ensuring that mortgage advisors deal with consumers correctly is a major focus of the FSA. Treating Customers Fairly (TCF) is encapsulated by Principle 6 of the FSA's existing 11 Principles for Businesses.

If Treating Customers Fairly is important to the FSA then it is our obligation to deliver our products with a similar importance. Candidates will be provided information on this and various other FSA directives during the course.

Treating Customers Fairly is highly consistent with what the FSA aim to achieve as part of their wider regulation of the retail markets:

Capable and confident consumers

Simple and understandable information for, and used by, consumers

Well-managed and adequately capitalised firms that treat their customers fairly

Risk-based and proportionate regulation

Treating Customers Fairly is about balancing the customer’s needs with the firm’s needs, being absolutely clear about what the firm and its services offer and being transparent about fees and levels of service. It is an example of where the FSA is allowing firms the flexibility to decide how to best deliver the outcome of ‘paying due regard to the interests of customers and treating them fairly’.

We believe that a competent mortgage advisor is an individual who has set his/her basis of delivering mortgage products as treating their customers fairly.