What if something goes wrong?
Where a customer is unhappy with the service we have provided, it is important to us to try and resolve the matter as quickly and fairly as possible. Part of the role of our compliance department is to investigate and manage the resolution of any customer complaints or expressions of dissatisfaction.
If you have a complaint, you can contact a member of our compliance department at our main office address. However, all our staff are trained to deal with customer complaints and ensure these are passed on the compliance department. Please be aware that you do not have to make a complaint in writing. A verbal complaint is sufficient for us to act.
When we receive a complaint, we will try to acknowledge it, in writing, within 5 working days. Our acknowledgement will set out our understanding of the matter that has caused concern or dissatisfaction and will request any further information that we require in order to proceed with an investigation.
We will try to complete our investigation as soon as possible, at which point we will write back to you proposing how we intend to resolve matters. Typically, we will do this within a period of eight weeks. However, in the event that this is not possible, we will write to you explaining the reason for the delay.
If you are not satisfied with our proposal to resolve your complaint, or we are unable to finish our investigation within eight weeks, we will invite you to refer the matter to the Financial Ombudsman Service. The Ombudsman will act on your behalf, without charge, and their decision is binding on the firm.
Where we provide services to you as a retail client acting outside their normal trade or profession, our advice and services are covered by the Financial Ombudsman Service (FOS) and Financial Services Compensation Scheme (FSCS).
The FOS was set up by Government to resolve individual complaints between financial businesses and their customers.
They can look into problems involving most types of money matters - from payday loans to pensions, pet insurance to PPI. If they decide someone has been treated unfairly, they have legal powers to put things right.
From 1st April 2022, the maximum claim you can make if you bring a complaint to the FOS is £375,000. This amount will increase each year in line with inflation:
£375,000 for complaints referred on, or after 1st April 2022 about acts or omission on, or after 1st April 2019.
£170,000 for complaints referred on or after 1st April 2022 about acts or omissions before 1st April 2019.
If you have a complaint about a financial product or service and you're not sure how to get started, you can contact them at:
Financial Ombudsman Service, Exchange Tower, London 14 9SR
Phone: 0800 023 4567
You can find out further details about the FOS at: http://www.financial-ombudsman.org.uk
The FSCS is an arrangement established by Parliament to protect consumers if a regulated firm has stopped trading or does not have enough assets to pay claims made against it.
The amount of compensation you receive will depend on the basis of your claim. The FSCS only pays compensation for financial loss. Compensation limits are per person per firm, and per claim category:
Deposits: £85,000 per person per firm
Investments: £50,000 per person per firm
Insurance Business: there is no upper limit on the amount of protection.
You can find further details about the FSCS at: https://www.fscs.org.uk