Complaints Management Policy
Advanced Markets (UK) Limited
Last updated November 2024.
Our Aim
Advanced Markets (UK) Ltd (“AMUK”) is committed to providing a quality service and working in an open and accountable way that builds trust and respect. A key strategy in enhancing our service is by listening to and actively responding to the feedback of our clients and stakeholders, particularly by addressing complaints and rectifying errors.
Therefore, we aim to ensure that,
- making a compliment or complaint is as easy as possible.
- we welcome compliments, feedback and suggestions.
- we treat any complaint as a clear expression of dissatisfaction with our service and offer an immediate response.
- we deal with it promptly, politely, fairly and confidentially.
- we respond appropriately, with an explanation, an apology or an update on any remedial actions taken.
- we undertake regular reviews of complaints and complaint-handling data to identify and rectify systemic problems and enhance our service delivery.
We recognise that many concerns will be raised informally and dealt with quickly.
Our aim here is to,
- treat our clients fairly.
- work in good faith and without prejudice in the client’s best interest.
- resolve informal concerns quickly.
- keep matters low-key.
- enable mediation between the complainant and the individual to whom the complaint has been referred.
This policy ensures that we welcome compliments and provide guidelines for dealing with complaints from our clients and members of the public about our services and staff.
Definitions
A compliment is an expression of satisfaction about the standard of service we provide.
A complaint is defined as any expression of dissatisfaction however it is expressed. This would include complaints expressed face to face, via a phone call, in writing, via email, chat or any other method. All staff should have sufficient knowledge to be able to identify an “expression of dissatisfaction”, even when the word “complain” or “complaint” is not used.
Compliments
We are always glad to hear from people who are satisfied with the services we offer. All compliments are recorded, acknowledged and a copy is sent to the relevant service manager, to provide feedback to the member of staff or team.
Complaints
The formal complaints procedure is intended to ensure that all complaints are handled fairly, in a timely and consistent manner, and wherever possible resolved to the complainant’s satisfaction.
Responsibilities
AMUK’s responsibility will be to,
- immediately acknowledge the formal complaint in writing.
- advise the complainant of the procedure AMUK will follow.
- inform the complainant about their rights to refer to the Financial Ombudsman Services (FOS) and Alternative Dispute Resolution (ADR).
- respond within the required period of time.
- deal reasonably and sensitively with the complaint.
- take action where appropriate.
A complainant’s responsibility is to,
- bring their complaint to AMUK’s attention, normally within 8 weeks of the issue arising.
- raise concerns promptly and directly with a staff member of AMUK.
- explain the problem as clearly, with as much detail as possible, including any action taken to date.
- allow AMUK reasonable time to deal with the matter.
- recognise that some circumstances may be beyond AMUK’s control.
Confidentiality
AMUK will maintain confidentiality regarding the complaint unless exceptional circumstances necessitate otherwise. Should this be the case, we will provide a clear explaination to the complainant.
Complaints Procedure
Written records must be made by AMUK at each stage of the procedure.
Stage 1
It is not for AMUK staff to establish whether a complaint is serious or not. All complaints should go to the Compliance Officer, who will make the decision and determine how to respond. An informal resolution, if appropriate, will be the initial approach, but if concerns cannot be satisfactorily resolved, then the formal complaints procedure should be followed.
The complainant may choose to refer the complaint to the FOS, in which case AMUK will provide the necessary FOS complaint leaflet. The complainant must be advised that they can at any time refer the complaint to the ADR. AMUK commits to full cooperation with the FOS and ADR and to comply promptly with any settlements or awards made by it.
Stage 2
If the complaint cannot be resolved informally, the client or member of the public should be advised that a formal complaint may be made, and the following procedure should be explained to them.
It may be appropriate for a different member of staff, preferably a senior manager, to make this explanation.
- A formal complaint can be made either verbally or in writing. If in writing the attached form should be used. If verbally, a statement should be taken by a member of senior management, a staff member or a line manager.
- In all cases, the complaint must be passed on to the Head of Compliance. In the event of a complaint about the Head of Compliance, the complaint should be passed to the Chief Executive Officer (CEO) and if the complaint is about the MLRO, this too must be passed on to the Chief Executive Officer (CEO).
- The Head of Compliance or CEO, on receipt of the complaint, must send the complainant a prompt written acknowledgement providing early reassurance that it has received the complaint, and it is being dealt with.
- The Head of Compliance or CEO will investigate the complaint impartially, obtaining additional information where necessary.
- The person making the complaint will receive a response, based on the investigation, within four weeks of the complaint being received. If this is not possible then a letter must be sent explaining why.
- AMUK will conduct a thorough assessment of each complaint, considering all relevant factors. If appropriate, we will offer redress or remedial action. The complainant will be promptly informed of our decision in a clear, fair and unbiased manner.
Stage 3
- If the complainant is not satisfied with the above decision, then the Board of Directors will be convened.
- The Board of Directors will examine the complaint and may wish to carry out further interviews, examine files or notes. They will respond within four weeks in writing. Their decision will be final.
Review of this Policy
AMUK monitors the effectiveness of this policy and its complaint management procedures as part of its compliance monitoring programme. This policy is reviewed periodically and no less than annually, to ensure it continues to meet AMUK’s regulatory and compliance obligations.
Complaint Form
You may use this form to make a suggestion or to make a complaint about Advanced Markets (UK) Limited.