This week, new legislation has come into place from the Financial Conduct Authority (FCA) to better protect the rights of consumers when dealing with financial firms.
Known as Consumer Duty, its purpose is to provide customers with four essential guarantees:
- Companies should offer products and services that meet their clients’ needs and offer fair value;
- this should be supplemented by strong customer support as and when it’s needed and clear communication to clients.
This is something that we at Moneyfarm have always believed in and wholeheartedly support.
The Moneyfarm model, whilst having technology at its heart, also allows our clients to speak to real, expert investment consultants to better enhance their understanding of savings, investments and financial markets.
This type of close relationship with our clients has always been our number one priority, which is why our team is always on-hand to offer you the support and guidance you need when it comes to managing your finances more effectively. We tailor our consultancy services to each individual and their unique goals, circumstances and risk tolerance.
Our services reflect what our customers need to meet their financial goals, whether in the short or long term, and are tested vigorously by our Asset Allocation Team before each launch to ensure optimal performance and reliability.
All our pricing is clear and transparent, with all fees available to you, in-app and on our website, so you always know the total cost up front.
If you have any questions about what Consumer Duty means for you in regard to your Moneyfarm account, please don’t hesitate to get in touch with a member of our Investment Advisory Team today.
*As with all investing, financial instruments involve inherent risks, including loss of capital, market fluctuations and liquidity risk. Past performance is no guarantee of future results. It is important to consider your risk tolerance and investment objectives before proceeding.
