Endowment complaint

jinky67

Hope some body can help.
On the 6th March I sent a complaint letter to our wonderful FA:mad: and up to now haven't heard anything back.Should we send another letter or wait to see what happens? How soon should we expect to hear anything?

dunstonh

You should have heard by now.

Is the adviser liable for the complaint or is there an employer or insurance company that should be taking the complaint? Is the adviser still at the same address you posted it to? Are they still trading?

jinky67

Sorry I haven't replied by now but here goes....
The guys name is on all the literature we have.The company is still there although I believe they are part of a larger group(it may be a franchise).There was a bit in a local paper saying he no longer worked there but a letter we received recently asking us to come in and review:mad: as our deal had ended had his name on it.
When I sent the letter I wasn't sure whether to send it to him or the master company

dunstonh

I would send another one to the company just in case. He should pass it on but i wouldnt take the chance.

defender_of_the_weak

You must send it recorded to both him and the company/franchise and keep a record. It may be that you are out of time but if not he can deny recieving letters until after the time bar kicks in and then claim these letters were not received. The regulator has stipulated that any adviser/company must make an initial response in 5 days

JoeK_3

defender_of_the_weak wrote: »

You must send it recorded to both him and the company/franchise and keep a record. It may be that you are out of time but if not he can deny recieving letters until after the time bar kicks in and then claim these letters were not received. The regulator has stipulated that any adviser/company must make an initial response in 5 days

A good annswer and I might just want to add to it.

Go on the website http://www.fsa.gov.uk and check the address that is registered with the FSA and follow the guide in the previous recommendation. Although his employers should respond within the stipulated timeframe your ex. FA is now not allowed to contact you due to the complaint against him.

JoeK

jinky67

I have looked on the FSA website and it states "appointed representative-former"
What does that mean?
Also no name comes up as representative (either current or former) when I click on that! Find that a bit worrying.
I'll send a letter to the Company later then.
If I don't hear anything back what then is my next step?
Have to apologise for my posts being so far apart I work strange hours.

dunstonh

appointed rep will mean that complaints will be dealt with at a central location and not by the adviser themselves. This is typically the case with banks, insurance company reps and IFAs who use networks.

Former means they are no longer authorised so its possible your complaint ended up in the bin when you posted it to him. That shouldnt happen but....

On the FSA register it should show who they were appointed reps to under the principles tab. That is where the complaint goes.