EPL's Transparency Index: ETpI™
A unique concept that ensures any organisations value chains are fully RDR compliant and transparent to both the clients and regulators at all times.
Customers are now expected to fully understand fees and charges related to underlying investments and the advice given. Indeed, regulators ensure that these fees are communicated clearly as part of the Treating Clients Fairly (TCF) mandate.
This all means that an organisation's value chain will be scrutinised like never before. To mitigate this situation, EPL have designed a unique audit vehicle to measure your value chain index via our ETpI™ tools:
- Price factor Transparency Index: Ensuring all products costs are RDR viable.
- Risk factor Transparency Index: Ensuring risk profiling matches RDR requirements.
EPL's Transparency Index (ETpI™) will ensure your business model will be on-message for the changes RDR brings, giving your clients comfort in the knowledge of fair TERs and ensuring corruption of knowledge does not pass down the value chain.
Employing the EPL Transparency Index (ETpI™) will ensure symmetry with your business and the RDR requirements, compensate against loss of independence through restricted advice, and gain and retain your client's trust, guaranteeing your value chain is protected.
- 1.
- Measure your transparency: To ensure client fee retention post-RDR, any advisory will have to ensure their charges and investment charges are clear, concise and communicated.
- 2.
- Communicate Product charges: A key component of the value chain is the underlying investment – constant measurement of their fees is imperative.
- 3.
- Ensure Total Expense Ratio (TER) fits: Independent status or restricted advice and subsequent loss of independence may mean an increase in TER.
- 4.
- Maintain Renewal fees: Ensure the very lifeline of your business is strengthened by a transparent value chain.
- 5.
- Benchmark your transparency: Ensure you are ahead of the competition and leading the way as
a RDR-compliant fee-earner communicating clearly the value chain of your business at all times.
ETpI™ : A USP for the RDR Market
EPL have developed a suite of graphical models expressing the RDR processes in a state-of-the-art, repository-based, modelling tool. We have defined the business rules, controls, risks, requirements and step by-step work instructions for each step of every RDR process.
Our models have been professionally constructed to the latest modelling standards using our own methodology specifically developed for the RDR market. Because of this, our models are simple to understand and simple to maintain – we can even train you to maintain them yourselves.
The modelling tool:
- Executes process simulations enabling ETpI™ compliance calculations to be performed and staffing-levels, times and costs to be accurately estimated. It is therefore possible to thoroughly plan your organisation's transition to RDR.
- Provides explicit instructions on how each step of each process should be performed along with links to appropriate documentation, contact information, forms, computer applications and internet/intranet resources.
- Delivers a simple, clear and unambiguous means of following the steps and decision-points of every RDR process.
EPL will take your organisation's experts through our RDR modelling tool, customising the models along the way as we develop bespoke reference and training material. We will then assist with disseminating the RDR models and rolling-out the training course throughout your organisation, providing a speedy transition to RDR compliance and sustained success.