Importance of transparency

A group can only hope to keep a customer's confidence by offering them a fair deal, says Novia's Bill Vasilieff

It is an exciting time being the latest entrant to the rapidly expanding wrap market in a period of major transition in the UK retail savings market. The life offices, who until recently dominated the savings market, effectively killed themselves off through the opaque nature of their products and hidden charges which resulted in their customers getting fed up and deserting them en masse. It is vital we do not make the same mistakes again. One of the fundamental reasons for why the wrap concept will succeed is complete transparency, which incidentally is also a key component of TCF. Unf...