As an Introducer Appointed Representative (IAR), it is important that you are clear and helpful to your customers, while also being compliant with the Financial Conduct Authority's (FCA) rules and regulations. As an IAR, you are only allowed to introduce patients to Practi and display non-real time financial promotions.
Discussing Rates and Terms
As an IAR, you can:
Provide general information:
"You can visit Practi to find more detailed information on rates and terms available."
Display pre-approved promotional materials
Have posters, flyers, and links to the Practi website in the website that patients can review while in the office or take home.
As an IAR, you cannot:
Tell patients the rates and terms available
"We offer interest rates of 0% for 12 months and under, and interest bearing for 12 months and over."
Reason: Rates and terms are determined by the lending partner based on the customer's creditworthiness. Not all rates are guaranteed to all customers. Additionally, discussing rates and terms goes beyond introducing patients to Practi.
Offer financial advice
"The 0% finance option is best."
Reason: Providing financial advice to patients requires specific authorization from the FCA.
Examples of Customer Interactions
Scenario 1: Customer asks about interest rates
Question: "What interest rates are available?"
Answer: "I'm unable to provide specific rates, but I'll send you a link to Practi's website where you can see all the rates and terms that will be available to you."
Scenario 2: Customer wants to compare options
Question: "Is it better to use Practi or another finance provider?"
Response: "I can't make any comparisons for you, but I'll send you the information from Practi so you can make an informed decision."
Scenario 3: Customer wants to know if they'll be approved
Question: "Will I be approved if I apply? I don't want to affect my credit."
Answer: "Decisions are made solely by the lender, so I cannot guarantee if you'll be approved. I recommend reaching out to Practi, or I'll let them know to follow up with you."