Are your advice firms’ complaints processes genuinely easily accessible for customers and fit-for-purpose?
- Yes (77%)
- No (13%)
- Not sure (10%)
Loading ...The results of our latest poll indicate that a healthy majority of advisers are sure their advice firms’ complaints processes are easily accessible for customers and genuinely fit-for-purpose.
As we go to press, nearly seven in 10 advisers (68%) say yes, their complaints processes are genuinely easily accessible for customers. Although a sizable 18% say a definitive ‘no’ while another 14% are not sure.
Our question follows news the Financial Markets Authority is strongly encouraging companies to review their complaints processes, stating that financial service providers “…should be visible, easy to complain to, accessible, fair, transparent and proactive when dealing with complaints.” (See: Companies Encouraged to Review Complaints Processes).
The FMA says its research Why don’t consumers complain? found fewer than a third of people are confident that they know how to complain about their financial service provider.
“Furthermore, those who said they would have liked to complain, but didn’t, cited barriers such as doubts about the outcome, not knowing how to complain, and perceptions of difficulty,” the regulator says.
Our poll question is seeking to understand if advisers could, hand on heart, say their advice processes were truly fit-for-purpose and the poll remains open for another week…