Appropriate services

The financial service provider is obliged to take proper care of its clients. We refer to this as the 'duty to care' and this duty is covered by the Financial Supervision Act (Wft).

Duty to care
The financial service provider must ensure that the recommended product is appropriate for you. Failure to do so may cause you problems. This is particularly the case as regards important financial products such as mortgage or pension insurance.

How does a financial service provider take proper care of its clients?
Before a financial service provider advises you about a financial product, it must ascertain whether the product is appropriate for you.

This can be done by, for example, asking you:

• What do you know about the product. Are you familiar with it?
• How big a risk do you want to take and what are you going to use the product for?
• What is your financial situation. How much are you able to pay and how much money can you borrow without getting into problems?