Novia forms TCF partnership

New wrap platform Novia Financial has formed a partnership with technology provider FinQS to offer cost effective TCF management information tools for advisers.

The TCF Centre, developed by FinQS, allows online client feedback to be gathered for advisers where scores can be benchmarked, analysed and monitored specifically against the FSA's six TCF principles.

This new service, which will be provided at no extra cost to advisers using the Novia wrap platform, will be available from launch.

Sim Sangha, FinQS sales director, said: "This is a great opportunity for FinQS to partner with Novia as it is set to launch its cutting edge proposition to the wealth management market. Novia clearly understands the importance of supporting financial advisers in meeting their TCF obligations as well as ensuring its own products and services achieve fair outcomes for its clients. In addition to allowing 3rd party access, no switching charges or re-registration costs, Novia is well positioned to help adviser firms demonstrate how they are Treating Customers Fairly via the use of TCF Centre".

Paul Boston, director of sales at Novia, said: "Throughout the development of Novia, TCF has always been one of our core and driving principles. The partnership with FinQS will further enable advisers using the Novia wrap platform to support their clients in the core principles of TCF in an efficient, cost effective online environment. This new service will enable advisers to not only meet the client's needs, but also measurably demonstrates the FSA's core TCF principles."

He continued: "The practical solutions by this enhanced service include the ability to provide MI at the touch of a button, as well as providing the tools to use this information effectively, (including the ability to measure a customer's understanding of what they have bought, providing a facility for online direct customer feedback, and providing reports and highlighting a need for staff training where necessary.) These services will be available through web based technology when used on the Novia platform and will further support the adviser in adhering to the FSA principles of TCF."

To comment, contact Gary Shepherd on 0207 004 7503 or email: gary.shepherd@incisivemedia.com