Moneysworth wins Best Small Protection Advice Firm 2023!
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Moneysworth was delighted to be ‘highly commended’ by the judges at the recent COVER Magazine Excellence Awards.
We were especially pleased that our commendation came in the Outstanding Client Engagement category as this means the expert panel have recognised the quality of service we provide to our clients.
During the initial advice process, we always take time to fully explain the level of service we will provide. We then conduct a comprehensive fact finding process to ensure we fully understand your needs, circumstances and overall financial position.
The next step is to research the whole of the protection market to see if there are any life insurance, critical illness insurance and/or income protection products that you would benefit from taking out.
If we make a personal recommendation, we always explain this recommendation in detail via a Suitability Letter, and we ensure that you are provided with all of the relevant product literature for the insurer.
Once any advice process has been concluded, we remain available to answer any questions you might have, or to arrange additional insurance should you require this. For clients with special circumstances, we will contact you every 12 months to conduct a formal annual review, where we will assess whether the policies you hold are still meeting your needs.
You may be aware of the Consumer Duty, which was introduced by our regulator, the Financial Conduct Authority (FCA), on 31st July 2023.
The Consumer Duty places new obligations on financial services firms to take positive actions to ensure they deliver good outcomes for their clients.
Moneysworth wholeheartedly welcomed the introduction of the Duty. We have always been aware of the importance of treating customers fairly.
We have trained all of our advisers on our expectations of them when servicing clients, and all of our advisers undertake regular ongoing training to ensure they remain up-to-date with developments in our industry. We carry out ongoing internal monitoring of the quality of advice we provide.
We see this Highly Commended award from COVER as recognition of the efforts we make to ensure our clients receive excellent outcomes in the new Consumer Duty world.
