The FCA doesn’t lay down any standard way in which TCF should be assessed and implemented, but it has highlighted key areas within the product life cycle where it’s a good idea to have extra checks in place. TCF is about a culture - doing business in a way that will help ensure customers get fair treatment.
The opening statement isn’t new to anyone that deals with the public it’s also not exactly rocket science. Minimise the sale of unsuitable products by encouraging best practice before, during and after a sale.Help customers fully understand the features, benefits, risks and costs of the financial products they buy.In principle, ‘treating customers fairly’, or TCF aims to raise standards in the way firms conduct business by introducing changes that will benefit consumers and increase confidence in the financial services industry. “We have every confidence that Ryan is the right choice to continue to advance our efforts to provide innovative finance solutions for our customers’ successes,” Jeff Vint, vice president and sales manager for the specialty vehicles livery market of TCF Capital Solutions, said.All FCA regulated firms must support the FCA Sourcebook’s principle that a firm “must pay due regard to the interests of its customers and treat them fairly.” Gulan came to TCF Capital Solutions after spending 21 years with Wells Fargo, where he held several roles in management, business banking and support for the equipment finance division, specifically the motorcoach industry sector. I have the utmost confidence in Ryan and know our customers will receive the same great service from TCF without me at the helm.” “My goal has always been to ensure the customers’ financing needs were met. “I’ve had a great run in playing a part in helping TCF and this industry grow,” King said.
Prior to joining TCF Capital Solutions, King spent 15 years serving in various sales and management positions with GE Capital. King’s career has spanned 33 years in the equipment finance business, including the past 18 years with TCF Capital Solutions where he helped TCF Capital Solutions’ customers secure more than $800 million in motorcoach financing. “TCF Capital Solutions is stronger today because of his leadership, and the legacy he leaves means TCF will continue to exceed the needs of our customers through our industry knowledge, tailored products and services and financial strength.” “Peter has served as a thought-leader on a national scale, earning the highest level of respect from those within the motorcoach financing world and from within TCF,” Gary Peterson, CEO of TCF Capital Solutions, said. King will be replaced by Ryan Gulan, who joined TCF Capital Solutions in February.
Peter King, a veteran sales representative with TCF Capital Solutions, will retire from the company effective April 3.