Ellen Bessner and Dan Richards discuss the steps you need to take right away if a client makes a complaint that may involve a lawsuit (Part 7 of 8)
Suitability continues to be a major issue as it accounted for half of the prosecutions against individual registrants in 2015
The reduction in the total number of client complaints is encouraging, FCA says
In part five of a six-part series, “Keeping your practice compliant,” Ellen Bessner, partner, Babin Bessner Spry LLP, and Dan Richards, CEO, Client Insights, discuss advisors’ liability in dealing with client complaints, and explain the processes you should know to ensure your response helps your client and protects you from possible lawsuits.
The OmbudService for Life and Health Insurance has revamped its website with a new suite of online tools
Mortgage life insurance is the source of many complaints
Evidence from the past few years suggests that as markets rise, client complaints drop - and vice versa
Seidt stresses the importance of maintaining the integrity of CRD data
Client settlements can’t force a clean record
Report aims to ensure a harmonized approach to handling complaints across all financial sectors within the EU