Complaints Procedure of Oakglen Wealth Limited (“Oakglen”, “We”, “Us”, “Our”)
Oakglen endeavours to always provide the highest possible standards of service. We take complaints very seriously and welcome the opportunity to resolve matters in a transparent, competent, and timely manner.
We are a MiFID investment firm and as such our complaints handling procedures apply to our retail and professional clients, and whether they are clients or potential clients. Access to the Financial Ombudsman Service is limited to ‘eligible complainants’.
This document sets out our complaints procedure. It has been based on the requirements of the Dispute Resolution Sourcebook issued by the Financial Conduct Authority (FCA) and we believe it meets the requirements of that Sourcebook as well as the principle of Treating Customers Fairly. The FCA is the independent regulator of financial services in the United Kingdom.
1. The Nature of a Complaint
These procedures cover any oral or written expression of dissatisfaction, whether justified or not, from, or on behalf of a complainant about the provision of, or failure to provide, a financial service or a redress determination, which alleges that the complainant has suffered (or may suffer) financial loss, material distress or material inconvenience.
2. To whom to address a complaint
Complaints should be raised in the first instance with your usual Oakglen Wealth Limited contact.
Alternatively, complaints can be submitted by telephoning or emailing Nick Middleton on +44 (0) 203 398 0327, email@example.com or by writing to the Compliance Officer at 2 St. James’s Market, London, SW1Y 4AH
3. Eligible Complainant
In order to be an eligible complainant you have to meet certain criteria. These criteria include that the complainant must be:
a. A consumer, or
b. A micro enterprise.
c. A charity which has an annual income of less than £6,500,000 at the time of the complaint, or
d. A trust which has net assets of less than £5,000,000 at the time of the complaint.
e. A small business, who have either a headcount of less than 50 people, an annual turnover of under £6.5 million or an annual balance sheet total of under £5 million.
f. A guarantor
4. Availability of our Complaints Procedure
It is our duty to make sure that clients are aware of our complaints procedure. You will have been made aware of this procedure as it is mentioned in our Initial Disclosures Documents and in our Terms of Business. It is also published on our website. You may have requested a copy of the procedure, or we may have sent it to you if you have made a complaint.
In addition to making the procedure known to you, you may also have access to the Financial Ombudsman Service once we have had the opportunity to resolve your complaint.
5. The Procedure
Your complaint will be investigated by a senior individual within the business who has sufficient competence to deal with the complaint and who preferably has not been involved in the matter which is the subject of the complaint.
If a complaint is made against the individual who usually deals with complaints then we will refer to an alternative and appropriate individual for independent investigation.
6. Time Limits
We will respond to your complaint as soon as we receive it and give you the name or job title of the person handling the complaint and let you have a copy of this procedure if you have not already received a copy.
We will deal with your complaint as quickly as possible and will keep you notified on a regular basis of our progress.
Complaints resolved by the close of three business days following the day received.
Where we can resolve your complaint by the close of three business days following receipt, and this is to your satisfaction, of which you may inform us verbally or in writing, we will issue a written summary of our findings and their conclusion.
If having received this letter you remain dissatisfied, you may refer the issue to the Financial Ombudsman Service who can be contacted at: The Financial Ombudsman Service, Exchange Tower, London, E14 9SR, Telephone +44 (0)800 023 4567.
We will provide you with a copy of the Financial Ombudsman Service leaflet; ‘your complaint and the ombudsman’.
The website address for the Financial Ombudsman Service if required is www.financial-ombudsman.org.uk
Some complaints can be complex or require us to obtain more information. If your complaint cannot be resolved by the close of three business days following receipt, you will receive our written acknowledgement setting out our understanding of your complaint and enclosing a copy of these procedures.
We will ensure that you are regularly kept informed of our progress with regards to the investigation into your complaint. If it has not been possible to respond fully to you within 8 weeks, then we will explain the position fully and undertake to advise you when your complaint is likely to be resolved. However, by the end of that 8-week period we very much hope that your complaint will have been resolved. If it has not been resolved by then we will let you know that you may refer your complaint to the Financial Ombudsman Service if you are dissatisfied with the delay and enclose a copy of the Financial Ombudsman Service’s explanatory leaflet.
Full details concerning time limits relating to referrals to the Ombudsman can be found in this leaflet.
7. Final Response
When we give you our final response we will try and explain to you all the reasons why we have come to our conclusion. If we feel that redress is appropriate, we will show how we have calculated this, and we will have based it upon what we believe is fair and appropriate to your complaint in accordance with guidance issued by the FCA.
At the same time, we will send you a copy of the Financial Ombudsman Service’s explanatory leaflet unless you have already received a copy. This will enable you to refer the matter to the Ombudsman should you be dissatisfied with our decision. Time limits apply when making a complaint. So, it’s best to take action promptly.
8. Reporting to the Financial Conduct Authority
We report twice a year to the FCA on relevant complaints we receive and how we have dealt with them. This enables the Regulator to check that we have handled matters in accordance with its requirements.
9. Referring Complaints to other Firms
If, after we have investigated the complaint, we find that the complaint should have been forwarded to another firm, or the responsibility is shared with another firm we will forward the complaint to them. We will advise you of this in writing giving you the contact details for the other firm.
The Financial Ombudsman Service contact details are:
Financial Ombudsman Service
London E14 9SR