Preparation tool for TCF visits launched

A computer-based system designed to help advisers prepare for FSA ARROW visits, which the regulator says will now include TCF competency, has been launched.

IFA complaince support firm Competent Adviser has joined forces with the FinQS TCF Centre to launch the pilot service, which it says will provide firms with all the necessary tools to fully comply with the regulator's requirements.

Competent Adviser's existing TCF toolbox contains computer-based training (CBT) programmes and a learning zone featuring a range of TCF case studies. This has now been enhanced to include FinQS' TCF Centre online customer feedback tool to further assist advisory firms in meeting their TCF obligations.

TCF Centre is a web-based system which has been designed to replace paper questionnaires as a way of gathering management information to prove the six TCF outcomes are being met.

Sim Sangha, director at FinQS, says: "As TCF Centre primarily caters for a PI compliant client feedback process designed to assess performance against the TCF principles, FinQS has added value to both the TCF Toolbox and the other functionality within the Competent Adviser system.

"We are confident that the combination of both our products under one umbrella will be of great benefit to firms' TCF processes>"

Competent Adviser says the system will initially be tested through an individual firm before full roll-out, but adds places on the pilot remain for interested firms.