Harrington Brooks is now fully authorised by the Financial Conduct Authority (FCA), one of only a handful of debt management companies in the UK to achieve this. But what does this actually mean?
We’ll take you through what it means to be FCA authorised and how this affects Harrington Brooks. And we’ll also take a look at what this could mean for us in the future.
Harrington Brooks achieved full FCA authorisation back in March. The FCA has regulated Consumer Credit Companies since April 2014. Before this point, the Office of Fair Trading (OFT) handled the regulation of these companies.
One reason why consumer credit companies switched to the FCA was to ensure they were more rigorously authorised. This would mean better results for customers, as they’d receive a higher quality of service from the companies.
The FCA wanted the consumer credit companies to focus on fair and transparent fees, giving provision of suitable and tailored advice and fully training all its employees. It also wanted them to put appropriate systems and controls in place to protect client money and to have a sustainable business model focused on providing the best outcomes for the customer.
So the fact that Harrington Brooks is now fully FCA authorised means we meet these high standards. And this can only mean a better service for all of our customers.
Harrington Brooks is open for business
Now that Harrington Brooks is FCA authorised, we’re looking build mutually beneficial relationships with other professional service providers. This is part of our work as a Responsible Business as we’re joining forces with businesses in the local community.
This is why we recently started working with Otten Penna, a solicitors firm from Northenden. Harrington Brooks will support any of Otten Penna’s clients with debt issues as they’re signposting them towards us when appropriate.
As part of our FCA authorisation, we’ve also got a cover feature in the current issue of GM Business Connect. You can read it online here.
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