Complaint Handling
Complaint Handling & Redress
Quick and fair resolution of any complaints or issues raised by a client is a priority at Outlook. A detailed procedure has been set up to ensure that any such instances are dealt with promptly and efficiently.
A summary of the key points is set out below.
Complaint
A complaint is defined as any communication that expresses or implies dissatisfaction with any Group company, employee or representative, any Group product, or any person acting for or on behalf of the Group, because of a real or perceived mistake, oversight, delay, or other inadequacy. The communication may be verbal or in writing (including email). Complaints can be raised with the Outlook Adviser or submitted to the Compliance Manager at Locked Bag 74, Heidelberg VIC 3084.
Whilst we try to resolve all complaints quickly and fairly, if we do not resolve the complaint to the client's satisfaction, they can lodge a complaint with the Financial Ombudsman Service (FOS), of which Outlook is a member.
The FOS Process
- Stage 1 of the FOS process is where FOS facilitates discussions and negotiations between the parties. All relevant documents are exchanged and the issues in dispute are identified.
- Stage 2 is conciliation and the parties may come face to face with a conciliator from the FOS national panel. The role of the conciliator is to assist the parties to explore options for settlement of the dispute and to help parties to agree on their own outcome.
- Stage 3 is where the independent adjudicator or panel is requested to make a decision “on the papers” taking into account the relevant law, fairness and reasonableness. If the client accepts the adjudicator or panel decision, it is binding on the member.
As a principal member of the Financial Planning Association of Australia (FPA), Outlook is also bound by the FPA’s Rules of Professional Conduct and Code of Ethics. If a client’s concerns involve ethical conduct they may raise their concerns in writing with the FPA.They can be contacted at PO Box 109, Collins Street West, Melbourne VIC 8007
The Australian Securities and Investments Commission (ASIC) also has a freecall Infoline on 1300 300 630 which you may use to make a complaint and obtain information about your rights. Alternatively, you can detail your complaint in an email to infoline@asic.gov.au.