We value our customers and treat them fairly by providing a professional service and only sell them products that fit their needs.
We have embedded treating customers fairly principles within our business and our service.
Abiding with all of the above ensures CVSL Ltd adheres to the core principles of Treating Customers Fairly as detailed below.
TCF – Core Principles
There are six consumer outcomes that firms should strive to achieve to ensure fair treatment of customers. These remain core to what the FCA expect of firms.
CVSL also has a Vulnerable Customer Policy which is designed to ensure that the way in which we conduct our business does not have a detrimental impact upon vulnerable customers. For the purposes of this policy, vulnerable customers are customers and prospective customers whose ability or circumstances require us to take extra precautions in the way that we sell and provide our services to ensure that they are not disadvantaged in any way.
What is a vulnerable customer?
The Financial Conduct Authority (FCA) defines a vulnerable customer as “someone who, due to their personal circumstances, is especially susceptible to detriment, particularly when a firm is not acting with appropriate levels of care.”
The FCA expects firms like ourselves to treat all our customers fairly and when dealing with people with vulnerable circumstances to take account of such vulnerability to ensure that the way that we sell and provide our services does not cause them detriment.
Identifying a vulnerable customer
Our staff are trained to identify vulnerable customers and to provide the additional level of assistance they may require in order to achieve a good outcome. However, it is not always easy to recognise these characteristics. Therefore, if you believe you meet the criteria for a vulnerable customer, please read this statement and notify us as soon as possible of your particular needs. You are encouraged to do this when you first make contact with us.
We recognise that certain groups of customers may be vulnerable. Whilst not all customers in these groups may be vulnerable, we will consider a customer’s individual circumstances where a potential vulnerability is identified. These groups may include, but are not restricted to:
Customers with communication difficulties (including learning difficulties and English not being their first language, dyslexia)
A customer with a reduction in physical or mental capacity
Customer with health issues – illness, whether physical or mental illness, severe or long term
A sudden diagnosis of serious illness to the customer or close family member
Personal circumstances of the customer – factors such as financial difficulties, bereavement, caring responsibilities or redundancy
The customers age particularly older and younger people. For example, a younger person may be considered inexperienced and the older person may be less technologically able
Our key principles when engaging with a vulnerable customer
As soon we think we may be engaging with a vulnerable customer, whether this is through our identification or you are approaching us, we will seek your consent to immediately make a record of this and ensure we adhere to this policy
Provide additional opportunities for you to ask questions about the information we have provided
Continuously seek confirmation that you have understood the information that has been provided
Ask if there is anybody with you who is able to assist. If not, and we believe this will be beneficial, we will make arrangements to continue with the subject matter at another time
Offer you the opportunity to complete the transaction after a period of further consideration
If we can’t help a customer, we will try and make sure that they understand what alternative options are available to them.
CVSL Limited is authorised and regulated by the Financial Conduct Authority (FCA) for the provision of consumer credit related brokering services only.
We are a credit broker of vehicle finance, we are not a funder or lender.FCA Firm Reference No. 657777