Complaints
Complaints Procedures
Any complaint, whether made verbally or in writing, will be reviewed at the earliest opportunity. The following steps will be taken:
the complaint will be acknowledged in writing promptly if it cannot be resolved straight away
information about the Financial Ombudsman Service (financial-ombudsman.org.uk) will be provided
further clarification will be sought if needed
a full and fair investigation will be carried out
progress updates will be provided as the matter is reviewed
the findings and proposed resolution will be explained once the investigation is complete
Where possible, complaints will be resolved informally within three working days. In such cases, a summary resolution communication will be issued, which will also outline the rights available should the outcome not be satisfactory.
If an immediate response is not possible, updates will be given during the investigation. A final written response will be issued as soon as reasonably possible and no later than eight weeks from receipt of the complaint.
Adviser or Provider
Clients often express dissatisfaction to their adviser about the product provider. We will need to establish whether or not your complaint relates to the advice given, the adviser service or the service or performance of the product provider. If unclear, this must not delay investigation and we will proceed with our own investigation. We will review this matter and take the complaint to the provider if appropriate in consultation with you.
Investigation
The nature and scope of the complaint will be considered carefully, with due regard to the Financial Conduct Authority’s expectations to:
handle complaints promptly and fairly, and
provide clear responses and, where appropriate, fair redress.
Eligible Complainants
It is the firm’s policy to treat all complainants the same, however, eligible complainants are legally defined and have additional rights in law that we must acknowledge and adhere to. Eligible complainants are policyholders or those with potential entitlement to claim under a policy that are:
Private Individuals
Companies within the EU definition of a microenterprise
Charities with an income of under £1,000,000
Trustees of a trust with assets of under £1,000,000
The Financial Conduct Authority complaints rules apply to complaints:
made by, or on behalf of an eligible complainant;
relating to regulated activity;
involving an allegation that the complainant has suffered, or may suffer, financial loss, material distress or material inconvenience;
not resolved by close of business on the day following receipt.
Final Response
This will set out clearly the firm’s decision and the reasons for it. If any compensation is offered a clear method of calculation will be shown.
We must include details of the Financial Ombudsman Service in the final response if dealing with an eligible complainant and a regulated activity, we will:
Explain that the complainant must refer the matter to the ombudsman within six months of the date of this letter or the right to use this service is lost (Optionally you can agree to waiver this timescale).
Analysis
A root cause analysis will be undertaken by the firm in the case of any complaint and this will be recorded with the appropriate action having been taken.
Closing a complaint
Where the firm receives confirmation from you that you are satisfied with the findings of the investigation and any resolution, the complaint will be considered closed.
Where no confirmation has been received from you within 8 weeks of the firm’s most recent letter, the complaint may also be considered closed.
Financial Ombudsmen Service
The firm must co-operate fully with the Ombudsman in resolving any complaints made against it and agrees to be bound by any awards made by the Ombudsman.
The firm undertakes to pay promptly the fees levied by the Ombudsman.
Contact:
The Financial Ombudsman Service
Exchange Tower
London
E14 9SR
0800 023 4567
020 7964 0500
(this number may be cheaper for calls from mobile phones and other networks)www.financial-ombudsman.org.uk
