Full speed ahead
Author: Mike Edwards, Chief Sales and Marketing Officer
Chapelhouse is a dynamic, collaborative retailer with which it is a pleasure to work with. I say that confidently because AutoProtect Group has worked with the business for 18 years! I like the thinking and inherent agility of Chapelhouse in this case study. Above everything, though, one line from Managing Director Phil Clay stands out.
“We make our decisions based on the idea that there is a customer at the end of everything that we do.”
There is an elegant simplicity in this line that informs every stakeholder about the business’ purpose and carries a sentiment that will be critical to compliance with the FCA’s Consumer Duty, as the following quote from a recent FCA letter sent to firms outlines;
“We expect the Consumer Duty to be a top priority for you personally. We want good outcomes for customers to be at the heart of fi rms’ strategies and business objectives, and leaders have a key role to play here. Firms’ Boards and senior management should embed the interests of customers into the culture and purpose of the firm.”
It was a clear call to action, even for the smallest firm. As an Appointed Principal, we provide compliance support for our products to hundreds of dealer Appointed Representatives (ARs). Chapelhouse is one of our ARs, promoting many of our value-added services, including insurance-backed warranties and GAP products.
In line with Phil’s partnership ethos, our highly respected iComply compliance service provides constant monitoring and training to support Chapelhouse’s compliance. The critical compliance aspect that must come from a dealer is the need to ‘embed the interests of customers into their culture and purpose.’
If I were to write a one-line definition of what the FCA requires of dealers in terms of culture; “We make our decisions based on the idea that there is a customer at the end of everything that we do.”
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