Complaints Policy and Process
Our Complaints Policy
We value complaints
We aim to behave in a way that does not cause complaints. However, 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.
A complaint is “an expression of dissatisfaction made to you 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.
We record all complaints in our complaint register so that we can learn from these client experiences and improve Bay Financial Partners Limited service to you and other clients.
- 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
- 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
Do you have a complaint?
We aim to provide you with the highest quality service and support. But if you do have a complaint or encounter a problem, please let us know as soon as you can. Our complaints process aims to address your concerns.
Step 1 – Let’s sort it out
Discuss your complaint with the person you’ve been dealing with and try to resolve it. Email or call us, or come and see us.
Was it one of these people?
Otherwise contact the office:
Step 2 – Review
If your complaint is not resolved by Step 1, you can call, email or arrange to see The Practice Manager. The Practice Manager will look into your complaint and give you a written response. If your complaint is about The Practice Manager then The Senior Financial Adviser will be responsible for handling your complaint instead.
Step 3 – We are a Participant of the Insurance & Financial Services Ombudsman Scheme (“IFSO Scheme”).
You can refer your complaint to the IFSO Scheme if it has not been resolved after going through our complaints process. This is a free, independent dispute resolution service which will consider your complaint and, either reach an agreed outcome, or make a decision.
See www.ifso.nz or call 0800 888 202 for information on the IFSO Scheme.
Insurance & Financial Services Ombudsman Scheme
PO Box 10-845
The video below from Karen Stevens, THE actual Ombudsman explains the process.
Internal Complaints Process
This process is designed primarily for internal use within Bay Financial Partners Limited, with our client-facing complaints process. Our client-facing complaints process will be made available to all clients on our website - here it is you are reading it - and by email or letter on request.
We have a 3-step complaints process:
Step 1 – Complaint
- Every expression of dissatisfaction made to us or to a person engaged by us, relating to our financial advice service, or the complaints handling process itself, where a response or resolution is explicitly or implicitly expected is treated as a Complaint. This includes a complaint about a failure to provide a service or give advice.
- All complaints will be logged in the complaints register.
- We will resolve the complaint as soon as we can (often immediately if it can be resolved by providing an explanation or information).
- If the client complaint is not resolved and the client wishes to continue, then the client will be told about our Steps 2 and 3 complaints process in writing.
Step 2 – client complaints
- The Step 2 complaint will be acknowledged by telephone and in writing by letter or email as is appropriate as soon as we can.
- All Step 2 complaints will be escalated to The Practice Manager as part of our internal complaints process.
- We will investigate the complaint, obtaining any relevant information required and reconsider the complaint based on its merits. We will respond to the client in writing (“the response”) as soon as we can.
- If the client does not accept our decision and provides new information or issues, then The Practice Manager will conduct a further review to determine if the new information or issues affect the response. The Practice Manager will then write the client a second response (“the second response”) as soon as he/she can.
Step 3 – final decision and referral to IFSO Scheme
- If the client does not accept the Step 2 complaint response or the second response and wishes to pursue the complaint, then we will review the response (and/or second response) again as the last stage in our complaints process.
- If the response remains unchanged, we will advise the client that we have reached the end of our internal complaints process by notifying them of “deadlock” (“the final response”). That means if they want to pursue the complaint, the client can make a complaint to the IFSO Scheme.
- All client complaints will be recorded in the complaints register. This will include the date of the complaint, the actions taken to resolve the complaint and the dates of these actions.
- The complaints register will be reviewed regularly to identify any improvements we can make to the services and/or information we offer clients.
- Last updated on .