TCF Centre for Networks and Service Companies
TCF Centre allows Networks to:
- employ a centralised automated client feedback solution, making a huge saving on the cost of manual processes
- gain global management information of the network, member firms and RIs for feedback across 100% of new business
- utilise the solution as an integral component of risk mitigation and T&C processes
- provide a white-label solution for members to administer under their own trading style and branding
Regulatory pressures and business drivers have led to client feedback programs being viewed as credible sources to gather client insight and business intelligence on advice quality, TCF performance, targeted marketing and adviser performance monitoring for KPI purposes. However the lack of appropriate solutions in this industry has led to IFA firms building manual processes involving sending out paper based disparate questionnaires, with little or no ability to analyse feedback responses within the context of such drivers as the FSA’s TCF initiative or marketing purposes.
The Customer Feedback Centre automates the collection and analysis of feedback. It saves your organisation time and cost and improves response rates to make customer feedback core to your business strategy and proposition. Networks and Support services can monitor the performance of their RI's or direct sales force, identify training or supervisory requirements to ensure that professionalism is enhanced, and that TCF can be measured and evidenced
Extensive Benchmarking and Management Information
There are three levels of benchmarking and management information, one for the TCF Centre community, network level benchmarking and another for the member firms. This ensures that consistent MI measurement and network specific service levels can be achieved across the group. In addition networks can allow individual firms to set their own benchmarks so that member firms can measure client feedback against their own internal service standards, along with the site averages as a whole.
TCF Centre Key Features for Networks
- Slick process for requesting feedback – available to member firms and the network
- Online or paper-based methods
- Achieves an average of 35-50% response rates.
- Bulk Import functionality to take an extract of client/adviser data from back office systems to automate the process of sending out questionnaires
- Personalised feedback questionnaires – each branded with the relevant member firm logo
- Customisable feedback request templates with guidance on how to encourage higher response rates
- Organisational hierarchy to mimic your business operations
- Benchmarking at network and member firm level
- Single platform for all staff engaged in feedback processes
- Automatic collation of feedback responses – with traffic light scoring
- A complete view of your business and TCF GAP Analysis from your customers' perspective
- Alerting so that feedback can be addressed quickly and easily - includes email alerting so that users know about negative feedback real-time without even having to log into TCF Centre
- Ability to quickly drill into responses and see exactly what customer feedback is telling you
- Measurable action plans with success criteria to demonstrate continuous improvement – actions can be set against one of the six TCF outcomes
- Actions Dashboard categorised with the six TCF outcomes allows quick access to actions that are outstanding or in progress
- Multiple questionnaires to meet different target groups with the ability to customise questionnaires specifically for your business
- Extensive hierarchical reporting
- Links to social networking sites as part of the feedback process to promote testimonial and referral opportunities
TCF Centre Benefits
TCF Centre provides networks with a slick, simple process to ensure that member firms can gather client feedback efficiently. This means that the network and their member firms can focus on the results of client feedback rather than the process of gathering feedback:
- TCF Centre will form an integral part of network risk assessment and mitigation programmes:
- produce valuable management information on individual firm TCF assessments
- generate KPIs for individual RI performance
- contribute to the firm’s Systems & Controls assessment
- Results automatically collated and analysed to provide management information at all levels of the organisation so that client views can be monitored and understood for T&C and TCF purposes
- Benchmarking ensures that performance can be monitored and areas requiring action or investigation are highlighted.
- Benchmarking against network, member firm and overall site service standards allow comparison and monitoring within a firm as well as across firms and the group as a whole
- Performance can be monitored for T&C purposes at adviser, member firm, group and organisation level
- TCF Centre mitigates risk for both the network and the member firms by providing an early warning system. TCF Centre ensures that client issues can be dealt with before they escalate to a complaint through traffic light and email alerting.
- TCF Centre builds viral marketing capability with referral generation via social networking links. On submitting positive feedback only, clients can be encouraged to post their positive comments to Twitter or LinkedIn, thereby providing testimonials to their followers who are likely to have similar financial behaviours/profiles.
- The ability for member firms to manage their own client feedback, whilst still providing a network view of all the data, delivers a non-intrusive supervisory process for member firms that will encourage adoption and buy in.
Enquire about TCF Centre