21/07/2025

VULNERABLE CUSTOMERS – FTAO The Platinum Sales Teams

Dear All,

During recent weeks, the group has been compiling and reviewing our annual submission for the FCA (The Financial Conduct Authority), which must be completed and submitted by the 31st July. This is an important body of work, as it summarises our fitness (or otherwise) to sell Finance and Insurance products in a compliant way, upon which the business depends.

Though our findings conclude that we continue to operate in a professional and compliant way as a group (thank you to everyone helping us achieve this), we must continue to do so ongoing, and guard against any complacency creeping in to our work and selling practices.

In producing our review, we identified a necessity to remind everyone about Vulnerable Customers, and the critical importance of taking the required steps to ensure that they are fully conversant with the finance packages and insurance products that we are offering to them each and every time. The reason for doing this is hopefully clear - so that a customer who is unable to fully understand what is being offered to them is given the necessary help and duty of care to ensure that a) the product/s being offered are right ones for the customer, and b) they fully understand what they’re purchasing from us and the finance/insurance agreement/s associated with their purchase.

In addition to ensuring the above, it is also necessary for Sales Departments to notify Jane Pillinger (Group Finance & Insurance Manager) at the Platinum Financial Solutions office of any customers considered to be Vulnerable for our records.

We accept that identifying customers as Vulnerable is subjective, but please ensure that all Team Members keep this in their minds as we sell our products and services.

We attach our current Vulnerable Customer Procedure Guide for your information.

For any clarification, please talk to Jane in the first instance.

Please share this communication with your Sales Department Team Members as appropriate.

With best regards,

Jeremy, Martyn, Paul, Michael & Jane

The Board of Directors & Group Finance & Insurance Compliance Manager
Renrod Ltd/Platinum Motor Group