Directors’ Statement of Compliance with Duty to Promote the Success of the Group

Under Section 172(1) of the Companies Act 2006, the Board of Directors have a duty to act in good faith and in a way that would be most likely to promote the success of the Group for the benefit of its shareholders whilst having regard to matters set out in Section 172(1) (a-f) of the Act:

     a) the likely consequences of any decision in the long term;
     b) the interests of the Group’s employees;
     c) the need to foster the Group’s business relationships with suppliers, customers and others;
     d) the impact of the Group’s operations on the community and environment;
     e) the desirability of the Group maintaining a reputation for high standards of business and conduct; and
     f) the need to act fairly as between members of the Group.

The Directors of Retirement Bridge Investments Group, both individually and collectively, believe they have acted in good faith at all times during the year ended 30 September 2020 and are focused on promoting the success of the group for the benefit of all stakeholders. The directors consider the impact on the interests of the group stakeholders, while discharging all of their duties;

Employees
The directors are committed to promoting an engaged and healthy workforce, recognising the importance of both physical and mental wellbeing. We regularly engage with our team through weekly and monthly team meetings, employee engagement surveys and an open-door policy which promotes strong communication channels through the business.

The directors encourage progression in the business through appropriate training and development, including apprenticeships. All employees complete regular annual professional development in a variety of areas, such as Health and Safety, FCA regulation and General Data Protection Regulation.

Our most recent employee engagement survey was measured at 88%.

Suppliers
The directors seek to ensure our suppliers align with our values and the high standards of conduct that we set ourselves. The directors commit to honouring agreements with suppliers, including paying to agreed terms. The directors’ value the loyalty and commitment of our strategic suppliers, especially in light of the current trading difficulties this year.

Customers
The team works tirelessly to ensure interactions with our customers are trusting, effective and considerate of the circumstances of each individual. Many of our customers are elderly, and potentially vulnerable, and therefore we take great care to ensure that they understand the terms of our agreements and are able to continue to provide the necessary documentation and are able to meet payment terms, where applicable. The directors commit to honouring these agreements and providing flexible payment terms, to ensure that our products are affordable for our valued customers.

Regulators
As lenders and administrators of home reversion products we are regulated by the Financial Conduct Authority (FCA). The directors are committed to ensuring full compliance with our sector regulations and reporting requirements.

Shareholders
The directors ensure that they frequently engage with the ultimate parent undertaking, Patron Capital V LP, which promotes and maintains consistently high standards of communication and understanding. Monthly board meetings ensure that more formal matters are discussed in detail, and decisions surrounding strategy, operational performance, capital investments and financial structure are documented so decisions may be enacted quickly and reported to the wider stakeholders, as necessary.

Community and environment
The group takes its role within the community seriously and promotes and encourages community support and charity contributions. The employees choose a charity to support each year. The chosen charity for 2020 was Caring Hands, a charity that supports independence and quality of life for residents in the West End of Newcastle upon Tyne. The group also recognises the importance of its environmental responsibilities and has measures in place to monitor and control its impact on the local environment and its compliance with regulatory environmental standards.

Key decisions made in the year and long-term considerations
In August 2020 the annual budget for the year ended 30 September 2021 was approved, along with the forecast for the next three years following a comprehensive review of our strategic priorities and risks to the business.

No other significant decisions were made in the year.