Complaints Policy Disclosure
We have a complaints policy and internal complaints process to ensure the efficient and effective handling of client complaints. We want to demonstrate our commitment to providing and improving a high-quality service to our clients. We see complaints as an important part of our client feedback and business improvement process.
According to the Financial Markets Authority, a complaint is “an expression of dissatisfaction made to you (Adviser) or to a person engaged by you, relating to your financial advice service (including any regulated financial advice given to a retail client by you or on your behalf), or the complaints handling process itself, where a response or resolution is explicitly or implicitly expected. A complaint includes a complaint about a failure to provide a service or give advice”.
All staff are responsible for identifying and responding to complaints in the first instance and directing clients to our internal complaints process if the complaint cannot be resolved immediately.
We record all complaints in our complaint register so that we can learn from these client experiences and improve our business. We promote active monitoring, learning and discussion for collective learning and improvement.
We will:
Deal with complaints in a fair and transparent manner.
Treat complaints with priority and give a timely response.
Be fair and act with integrity.
Take a genuine, fresh look at the issues raised and not be defensive.
Offer the complaint to be internally resolved through a neutral adviser
Try to see things from the client’s perspective, to understand and address why they think we were wrong.
Acknowledge our mistakes and put them right if we can.
Manage complaints using a defined and agreed process.
Make sure clients know how our complaints process works, are clear which stage of it they have reached and what will happen next.
Train our staff to apply the policy and processes for complaints resolution.
Client Complaint Process
Before complaints – how to complain is disclosed
Information on how to make a complaint is on our disclosure documents available
publicly and in our statement of advice document.
Step 1 – Client makes a complaint to Adviser or support staff directly
If a complaint is made directly to the Adviser or their support staff the Adviser aims to respond to the client within 2 working days to open discussion on the matter. The Adviser will also ensure the complaint is recorded in the complaints register
A complaint can also be made at any time by our clients emailing
info@virtuewealth.co.nz directly. This email is received by our admin team
Step 2 – Review
If the complaint is not resolved by Step 1 the client will be offered if they would like to internally escalate the complaint using a neutral adviser, or continue
with their Adviser. If a neutral adviser is requested, we will offer a list of local advisers that they may chose from to contact or allow them to chose their own adviser. Adviser to review the complaint with the client. A response to the client will be made within 5 working days of escalation.
Step 3 – Resolution
After reviewing the complaint, the Adviser will attempt to resolve the complaint,
working with the client and other parties involved relevant to the complaint and the Adviser’s scope of service. The client will have the opportunity to respond to this outcome. If the client accepts the outcome, the complaint will be closed. If they do not accept the finding, the issue will be ‘deadlocked’ and referred to the disputes resolution scheme.
Step 4 – Referral to Insurance & Financial Services Ombudsman Scheme
We will refer a client complaint to the IFSO Scheme if it has not been resolved after going through our complaints process and have reached a ‘deadlock’. This is a free, independent dispute resolution service which will consider the complaint and, either reach an agreed outcome, or make a decision.
www.ifso.nz or call 0800 888 202 for information on the IFSO Scheme.
Insurance & Financial Services Ombudsman Scheme
PO Box 10-845
Wellington 6143
NEW ZEALAND
Let's keep in touch, follow us on Instagram.
