Complaints Handling for Investment Management Firms

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It has been shown that complaints history is one of the factors that influences clients choosing an investment manager so improving statistics could be crucial. Assessing where the business could establish the causes of complaints can help reduce costs and safeguard reputations.

The purpose of this workshop is to allow Investment Management firms to review the content and implementation of their complaint handling procedures.

Key Learning Objectives:

• Understand the importance the regulators place on complaint handling
• Identify any gaps in your current processes
• Clarify the responsibilities of both providers and distributors
• Confirm the relevance and benefits to your business of root cause analysis

Contact the IA Training Team to ask questions regarding any of the courses we run, or if you are experiencing problems or difficulties when attempting to register, please email: Training@theia.org

09:30 Agenda and Objectives

• Introductions as appropriate / housekeeping / workshop process
• Delegate objectives / Training objectives
• Examination of why the subject is important (some disaster stories / influence on clients / costs of complaints (money and credibility) etc, FOS

09:45 Environment and background to regulation

• FCA strategic and operational objectives
• What the regulator expects
• Consumer Duty cross-cutting rules and complaint handling
• Responsibility of providers and distributors

10:15 Recognising complaints

• Importance of recognising whether an expression of dissatisfaction is really a complaint
• The definition of “Complaint” / Triggering action
• Examples exercise to embed learning and showcase typical misunderstanding / themes
• Good practices

11:00 Coffee Break

11:15 Dispute resolution rules and Company Procedures

• Brief walk through of general DISP rules
• Procedures and the importance of Culture
• Resolution
• Record Keeping

12:00 The Financial Ombudsman and our approach to complaint handling

• Structure of FOS – investigator / Ombudsman
• FOS approach – ADR / Fair and Reasonable outcomes / Application of rules, contracts etc / inquisitorial remit
• Define win / win … desirable outcomes of handling
• What might make a difference to outcomes

12:45 Root cause analysis

• Define root cause
• Capturing the root cause
• Uphold or Reject?
• Lifecycle of a product
• Remedial action

13:15 Summary 

• Summary against objectives
• Delegate learning points and actions
• Feedback

13:30 Close and networking lunch

• A sandwich lunch will be provided and an opportunity for you to network with the trainer and other delegates

Stephen Fairclough

With over 20 years training experience in financial services, Stephen is well placed to support across a wide range of developmental activities. He is a former Head of Education for HSBC covering the UK and Europe, responsible for regulatory and financial crime related compliance learning. His time at HSBC was during intense scrutiny from regulators and government functions during the bank’s Deferred Prosecution Agreement.
With other roles ranging from advising customers within a high-street retail branch, to Senior Vice President responsible for Global Risk & Compliance training at a US-based bank, Stephen’s range of experience is adaptable. He also worked in the Insurance Firms division at the Financial Conduct Authority (in the FSA days) where he was the divisional expert for the rules and outcomes required under the Training & Competence handbook. Stephen won the Thomson Reuters award for “Most Effective Compliance Training at a Regulated Firm” in 2010.

The HSBC role, along with five years at Barclays in their Private Clients and Wealth functions, has seen Stephen work with retail, commercial, wholesale and private banking channels. While enjoying the design and delivery of training to an audience either live or virtually, Stephen also works with compliance, HR and operational teams to build or enhance learning frameworks, ensuring appropriate systems, controls, checks and balances are in place to withstand any robust regulatory scrutiny, as well as delivering sustainable commercial benefits to the business.

This training course is run under the Chatham House Rule, for reference please see here

The workshop is likely to be of interest to senior managers with a responsibility for complaints handling or anyone dealing with complaints on a regular basis.

IA Member £395.00 +VAT
Non-Member £545.00 +VAT

Pay using a credit card online, or if you wish to be invoiced please email your full details to: Training@theia.org

PLEASE NOTE: Full payment for the course must be made prior to the course commencement date.

• Any cancellation must be made in writing.
• For all cancellation received 15-30 days prior to the course start date, 50% of the course fee is still payable.
• No refund is given for a cancellation made 14 days or less prior to the commencement of a course.
• Transferring from one course to another is treated as a cancellation.
• You can substitute one delegate for another at no additional cost. In this instance, please give two business days’ notice.

Hybrid Training Courses:

Hybrid deliveries of our training allows participants on our courses the option to attend in-person here from our offices at Camomile Court, or you can attend virtually via MS Teams.

Please be advised a training course could change from hybrid delivery to solely virtual delivery. In such an event, we will inform delegates at least one week prior to the course delivery date.

There are a limited number of in-person spaces available on this course and this will be allocated on a first come first served basis.