JM Finn news

Discretionary Service awarded prestigious Gold Standard

We are delighted to announce that JM Finn’s core discretionary portfolio service has been recognised as having achieved a Gold Standard. This prestigious award was presented to the firm at a reception at the House of Commons in November where senior representatives of the firm were present to collect it.

The Gold Standard Awards have been supporting higher standards in financial services in the UK for the past 15 years. During this period, economic, political and regulatory changes have witnessed a drive towards greater accountability and a call for firms to go beyond standard practice to fulfil customer needs.

The awards not only take account of a company's capability to conduct business, but assess standards of service, financial strength, fair value and trust, as well as governance and social responsibility which reflect the current financial landscape.

Building and restoring trust through best practice is key to success for financial services firms. With demands for transparency and better customer outcomes now the norm, the financial services sector is required to demonstrate its capability and to raise its game through higher standards. Higher standards are a major factor in building trust in financial services and one which the Gold Standard Awards fully supports.

Building and restoring trust through best practice is key to success for financial services firms.

The awards recognise that assessing a wide range of factors helps to gain a more rounded picture of whether structures in place have the customer at heart and are sustainable enough to meet the requirements of an ever-evolving financial services sector.

One of the advantages of such a comprehensive assessment is that it can act as a self-audit of processes and procedures already in place, giving firms a clearer indication of how practices and processes impact clients. The awards do not operate a system of winner and highly commended, rather all those who pass the appropriate measurements and judging can achieve a Gold Standard. The Gold Standard Awards are awarded by an independent panel of judges on behalf of Incisive Media.

The five pillars of measurement are:

1. Financial Strength

This has been defined in terms of the financial ability of the organisation to meet what its customers reasonably expect through its ability to survive in an appropriate form.

2. Capability

This area looks at the overall expertise of the company to conduct their business. Typical elements taken into consideration include business structure, staff expertise and training.

3. Service

This assesses the ability to maintain an effective pre and post-sales relationship with the consumer. Typical areas assessed are forms of communication, quality and levels of service on offer.

4. Fair Value

This assesses whether the customer is obtaining value for money by comparing charges and benefits against a typical range of services. 5.Trust The ability of a company to promote confidence through the customer experience, the media, advertising and marketing. The judges look for a coherent message, which is transmitted not only to customers but within the company itself. Attention is also paid to the ethical use of product literature and performance as well as the adoption of corporate governance standards and social responsibility.

5. Trust

The ability of a company to promote confidence through the customer experience, the media, advertising and marketing. The judges look for a coherent message, which is transmitted not only to customers but within the company itself. Attention is also paid to the ethical use of product literature and performance as well as the adoption of corporate governance standards and social responsibility.

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