All Brokers that are regulated by the Financial Conduct Authority (FCA) must be able to produce and show evidence that they are gathering and using key Management Information (MI).
Management Information is required to ensure that the firm is embedding Treating Customers Fairly (TCF), it is also useful for a firm to identify any weaknesses and where the business can make improvements to drive it forward. This can include the number of enquiries received, enquiries not taken up and why, whether advice has been given, sales completed/converted, complaints etc. Unfortunately the FCA don’t prescribe what MI you should use or in what format, however it should be data that is useful and meaningful to your firm.
