PFS members will now have access to two leading edge, web-based TCF tools. The first is a self-assessment tool, Small Firms Frameworker; the second is an innovative immersive learning simulation
Small Firms TCF Frameworker is based on the FSA’s six desirable outcomes for customers and the software enables a firm to assess their risks and signpost areas needing further work. While TCF is often referred to as a cultural commitment it nevertheless must be evidenced by business policies, controls, records and procedures. The software will help firms ensure that their underlying evidence is robust in the key areas and TCF policies and procedures are in place with staff trained to deliver.
Frameworker will also provide a robust structure and reporting tool. For many firms this been a major issue which can be aided by using this system. Additional benefits include being able to evidence their TCF activities while its reporting is intuitive helping to communicate easily on TCF performance and progress.
PFS members will get a 50% saving on the usual price.
The TCF Immersive Learning Simulation challenges learners to develop their understanding of TCF, the implications in their daily work, and encourages them to make sound decisions within a safe virtual environment. The learning solution is designed to be fun, stimulating and easy to use and will provide an excellent understanding of TCF. Once completed, the simulation gives specific feedback on each performance area and reporting is immediately available for review.
A one year subscription to TCF Serious Learning is available for a reduced fee.
Jill Wade, Director of Learning Solutions for The Consulting Consortium, commented: “We are very excited about the launch of these TCF solutions and to be working with the Personal Finance Society to provide this valuable support to members. The PFS is leading the way by recognising the value of providing TCF solutions and TCC has been grateful for its input to ensure they meet the needs of small firms. PFS members can now reassure themselves that they are focusing on the most appropriate areas of TCF.”
Fay Goddard, Chief Executive of the Personal Finance Society, said: “TCF remains the FSA’s number one priority following the 31st December deadline for firms to embed TCF principles into their businesses. We are making these tools available to our members, at a significant discount, to help them prepare for the FSA’s TCF assessment. For some it may highlight areas in which they need to give additional focus. As long as the quality of the underlying evidence is strong enough we believe TCF Frameworker will leave members well placed to demonstrate compliance with TCF under FSA assessment. The learning solution offers a very new way of learning to support the embedding of TCF within their business”
