Complaints Policy – Wealth Management
Procedure for Handling Complaints
It is Neovision Wealth Management’s policy to treat all complaints, whether regulated or not, according to our complaints procedures.
If you wish to make a complaint, you can do so by contacting our compliance department at email@example.com, or calling us at +44 (0)20 3002 033.
Receiving A Complaint
All complaints, whether oral or written and made by or on behalf of a customer, will be referred immediately to the person responsible for handling complaints, even if the complaint has already been resolved by an apology.
Any oral or written statement made by you, which might be considered as a complaint, will be referred to Neovision Wealth Management’s compliance department so that it can be determined as to whether it is a complaint or not.
If your complaint is not resolved by the third business day following receipt, we will follow the below procedure.
Acknowledging Your Complaint
Neovision Wealth Management will acknowledge your complaint in writing. The written acknowledgement will be issued promptly.
In relation to oral complaints, the written acknowledgement will set out our understanding of the complaint and will invite the complainant to contact us if our understanding is incorrect.
The acknowledgment letter will outline the result of the investigation if this has been completed.
If the investigation has not been completed, the acknowledgement letter will confirm that we will:-
- provide you with regular updates on our progress;
- advise you that if our investigation has not been completed within eight weeks of our receipt of the complaint, we will write to you informing you why we are not yet in a position to resolve your complaint and provide details of your rights to refer the matter to the Financial Ombudsman Service;
- advise you that on completion of our review, we will inform you of the outcome.
A summary of our internal process for dealing with complaints promptly and fairly will be provided with the acknowledgment letter.
Investigating A Complaint
Any investigation conducted will be fair, consistent, and will be dealt with promptly.
Our compliance department will investigate all complaints and may, where appropriate, consult the adviser / member of staff whose actions or omissions gave rise to the complaint issue(s) raised.
If the compliance department is also subject to the complaint, the investigation will then be conducted by an independent external third party.
The investigation will include:
- a review of the relevant client file
- any information and/or documents submitted by you (including any standard questionnaires)
- contact with the relevant provider(s), if relevant if remedial action and/or redress is to be offered, the type of remedial action and the level of redress will be fair and appropriate
Resolving A Complaint
Following the completion of the investigation, we will issue you with a final response letter.
This final response letter will detail:
- details of the investigation;
- the outcome of the investigation;
- if relevant, any offer of remedial action(s) or the appropriate level of redress (or both), and the basis of calculation;
- details of your right to refer the matter onto the Financial Ombudsman Service (FOS) and advise that this must be done within 6 months from the date of this letter, or they may lose that right; and
- contact details of the FOS.
A copy of the FOS’s standard explanatory leaflet will be issued with our final response letter, unless provided earlier.
If we receive confirmation from you that you are satisfied with the findings and outcome of the investigation and/or the redress being offered, the complaint will be considered to be closed by our compliance department.
Where no confirmation has been received from the complainant within eight weeks of our final response, the complaint will also be considered closed. However, under the concept of treating customers fairly, if the complainant contacts the firm after eight weeks, we will review any further correspondence accordingly.
Keeping A Complainant Informed
We will ensure that a complainant is regularly kept informed of our progress with regards to the investigation into her/his complaint.
Any progress updates will include:
- the reasons for any delay;
- what further information / documents we require to resolve the complaint
- when they may expect to receive a further update / our final response letter
We will work towards completing our investigation into a complaint within eight weeks of its receipt.
In the event that we have been unable to conclude our investigation within the eight week period, we will write to the complainant, informing her/him of the reasons for the delay and that if he/she is not satisfied with our progress, he/she may refer the matter to the FOS.
Financial Ombudsman Service
If a complaint is referred to the FOS, Neovision Wealth Management will fully co-operate with the FOS and comply promptly with any settlement and awards made by it.
We agree to be bound by any awards made by the FOS.
Referring A Complaint to Another Firm
If a complaint is received whereby we have reasonable grounds to be satisfied that another firm is solely or jointly responsible for the issue(s) raised, the case will be referred promptly, in a durable medium, to that firm.
We will also promptly inform you of the referral and provide you with the other firm’s contact details.
If the firm is responsible on a joint basis, we will investigate those issue(s) in line with our normal procedures.
An entry of each complaint received will be made within our internal complaints register, which will be maintained at all times.
Neovision Wealth Management will retain a record of each complaint received for at least three years from the date the complaint is received.