"We are not sure how our CIP fits in with Consumer Duty."

Since 2002, The Timebank have built a team with diverse skills, experiences and knowledge to help clients with projects like this.

The Timebank can be a flexible addition to your team. This is far more effective than employing someone to do the same job, particularly if it is a short-term project or job that doesn’t need a full-time employee.

Case study

Customer profile

2 partner, owner managed firm.

Excellent, long standing relationships with clients.

Looking at succession and wanting to implement more consistency in process.

Firm have been operating with various investment models for some time, but have never had it properly documented as a Centralised Investment Proposition document.

Concerned over the implications of PROD.

Firm realised they were confusing their service proposition with their CIP.

Concerned the lack of a clearly documented investment process would prevent the growth and succession planning they wanted to implement.

 

Objective

  • To understand the investment process within the firm.

  • To convert this into a detailed Centralised Investment and Retirement Propositions document.

Delivery

To understand the investment process within the firm.

  • A day consulting with the firm over their models, their clients but also their goals for the business.
  • From this, we identified a number of new client segments with identifiable characteristics.
  • We determined how the characteristics of the segments determine the requirements of different investment outcomes. 

To convert this into a detailed Centralised Investment and Retirement Propositions document.

  • We designed a CIP process.
  • We mapped the different segments through the new CIP process.
  • We researched all available products, services and investments to find a matching shortlist of manufacturers (providers) and instruments (products).
  • We produced reports that demonstrate a match between the client characteristics and the product CIP outcome characteristics using our own PROMatcher tool.
  • We undertook due diligence on all the shortlisted products to determine the most suitable manufacturers (providers) and instruments (products) for each segment.
  • We then designed an online tool for the firm to process every new client through to determine both the segment and the CIP outcome.

Ready to proceed?

This sounds like me. I would like to know a bit more about The Timebank before going ahead

Fantastic!

We mould our service to our clients, so we will give you a call and listen to your needs to make sure we can help you.

In the meantime, we will start off by giving you complimentary access to The Timebank Foundations Programme.

Being a guest client gives you the following benefits:

  • FAQs about the service
  • Due Diligence on us as a company
  • Access to our PRODMatcher tool, which solves the PROD problem
  • Access to our Due Diligence reports on providers and manufacturers
  • News, hints, tips and opinions sent directly to your inbox
  • Access to ongoing CPD video series

This sounds like me, but I am not ready to get going just yet

Timing is everything, we understand that.

We really want to be here when you are ready, so in the meantime, we would like to give you complementary access to The Timebank Foundations Programme.

This gives you access to a range of benefits:

  • FAQs about the service
  • Due Diligence on us as a company
  • Access to our PRODMatcher tool, which solves the PROD problem
  • Access to our Due Diligence reports on providers and manufacturers
  • News, hints, tips and opinions sent directly to your inbox
  • Access to ongoing CPD video series