Complaints – WH Ireland Financial Services Company, Wealth Management & Corporate Broking | WHIreland | Complaints Handling Procedure

Complaints Handling Procedure

Introduction

The purpose of this guide is to provide a framework for WH Ireland Limited’s complaint handling procedure covering:

  • Receiving complaints;
  • Responding to complaints;
  • The investigation of complaints and the action required where a complaint cannot be resolved on the spot; and
  • Notifying complainants of their right to go to the Financial Ombudsman Service (FOS) where relevant.

WH Ireland Limited (the Firm) is committed to ensuring that all complaints received are handled fairly, consistently and promptly and that the firm identifies and remedies any recurring or systematic problems, as well as any specific problem identified by a complainant.

Definition

For the purposes of the Financial Conduct Authority’s (FCA) requirements on complaints procedures, a complaint is any oral or written expression of dissatisfaction, whether justified or not, from, or on behalf of, a person about the provision of, or failure to provide, a financial service or redress determination.
A complaint must involve an allegation that the complainant has suffered (or may suffer) financial loss, material inconvenience or material distress.

An eligible complainant is a person who would be eligible to refer a complaint to the FOS. An eligible complainant can be one of the following:-

  • A individual acting outside their trade, business or profession; or
  • A micro-enterprise, which employs fewer than 10 persons and has a turnover or annual balance sheet that does not exceed €2 million; or
  • A small business, which has an annual turnover of less than £6.5 million, which employs fewer than 50 persons and has a balance sheet total of less than £5 million
  • A charity, which has annual income of less than £6.5 million; or
  • A trustee of a trust which has a net asset value of less than £5
  • A guarantor

Procedure

The Head of Compliance and Risk is responsible for ensuring complaints are handled appropriately and in accordance with the requirements. The Head of Compliance and Risk has the authority to settle any complaint. All current client complaints are formally reviewed by the WH Ireland Executive Committee which meets on a weekly basis.  All WH Ireland complaints handling policies and procedures are formally reviewed and approved at least annually by the WH Ireland Executive Committee and then by the WH Ireland Risk Committee.