Public Complaints Policy
Aim of this Policy
The aim of this policy is to detail the requirements that apply in dealing with complaints about financial planning and advice provided by Representatives of our Licensee.
The purpose of this Complaints Policy is to set out the information required to be in a Complaints policy by ASIC Corporations, Credit and Superannuation (Internal Dispute Resolution) Instrument 2020/98 (“the Instrument”). The Instrument is a legislative instrument made by the Australian Securities and Investments Commission (“ASIC”).
We acknowledge the importance of having an effective and efficient complaints handling and IDR (Internal Disputes Relolution) framework, and we adopt a customer-focused approach. While we acknowledge your right to make a complaint, we expect that you will treat our staff with respect when they are dealing with your complaint.
To whom this policy applies
This policy applies to all representatives under the WealthStream Financial Group Pty Ltd AFSL License.
We adopted the current version of this Complaints Policy on 21st of September 2021.
What this policy covers
This policy covers service and advice related complaints i.e. complaints about the way we conduct oursleves or the advice and/or services or our staff have provided or failed to provide to you, including where a you allege to have suffered a financial disadvantage.
- Our approach
- Definition of a complaint
- Complaint Handling Process
- Our Complaints Register
- Notifying the Professional Indemnity (PI)
- Additional Information
Definition of “Complaint”
“An expression of dissatisfaction made to an organisation, related to its products or services, or the complaints handling process itself, where a response or resolution is explicitly or implicitly expected.”
How to make a complaint
You can make a complaint to us in any of the following ways:
Phone: (02) 9858 5658
Mail: PO Box 341, North Ryde BC, 1670
When making your complaint please tell us:
- your name
- how you wish us to contact you (for example, by phone, email)
- what your complaint is about; and
- what you are seeking to resolve your complaint.
If you need help to make a complaint
If you need help to make or manage your complaint, you can appoint someone (for example, a relative or friend) to represent you. Please note that we will need your authority to speak to any representative that you appoint.
How we will deal with your complaint
We will acknowledge receipt of your complaint and try to resolve it as quickly as possible. Generally, where your complaint is made:
- verbally – we will acknowledge your complaint in the same manner.
- in writing – by email or via post, we will acknowledge your complaint, in writing, within one business day or as soon as practicable thereafter.
When acknowledging your complaint, we will also have regard to any preferences you have communicated to us in relation to the way in which you wish for us to communicate with you.
Investigation of your complaint
If we cannot resolve your complaint immediately, we will need some time to investigate your concerns. We may also request that you provide us with further information to assist with our investigation.
- your complaint is not resolved within 5 business days of us receiving your complaint; or
- if you request a written response; or
- we will provide you with our written reasons for the outcome of your complaint (“IDR Response”) within 30 calendar days*.
Our IDR (“Internal Dispute Resolution”) Response will also inform you of your right to escalate your complaint (see further details under ‘Escalating your Complaint’).
If we reject your complaint (whether in full or in part), our IDR Response will:
- identify and address the issues you raised in your complaint;
- set out our findings on the material questions of fact raised in your complaint, making reference to the relevant supporting information; and
- provide a sufficient level of detail in order for you to understand the reasons for our decision so that you can decide whether to escalate the complaint to the relevant external dispute resolution body.
We are not required to provide you with an IDR Response if:
- your complaint is resolved to your complete satisfaction within 5 business days and you have not requested an IDR Response; or
- within 5 business days of receiving your complaint, we have given you an explanation and/or apology in circumstances where we cannot take any further action to reasonably address your complaint.
*General Timeframes for Dispute Resolution
No later than 30 calendar days after receiving your complaint
Traditional trustee complaints
No later than 45 calendar days after receiving your complaint
Superannuation trustee complaints, except for complaints about death benefit distributions
No later than 45 calendar days after receiving your complaint
Complaints about superannuation death benefits
No later than 90 calendar days after the expiry of the 28-calendar day period for objecting to a proposed death benefit distribution referred to in section 1056(2)(a) of the Act
Delay in providing an IDR Response
If we are not able to provide our IDR Response to you on time because your complaint is complex or because of circumstances beyond our control, we will write to you to explain the reasons for the delay and inform you of your right to escalate your complaint to the related external body.
- For all Financial Service complaints, you are able to contact the Australian Financial Complaints Authority (AFCA).
- For all Privacy related complaints, you are able to contact the Office of the Australian Information Commissioner (OAIC).
Escalating your complaint
If you are not satisfied with our response to your complaint, or the manner in which we’ve dealt with your complaint, you can escalate your complaint to the following external bodies.
Australian Financial Complaints Authority (AFCA)
We are required to be a member of an external dispute resolution scheme. Accordingly, we are a member of AFCA and our membership number is 12149.
You can contact AFCA using the following details:
Office of the Australian Information Commissioner (OAIC)
We are governed by the Australian Privacy Principles and the Privacy Act, which are regulated by the Office of the Australian Information Commissioner (OAIC).
You can contact OAIC using the following details: