GIGWealth
GIG WEALTH (PTY) LTD
Complaints Management Framework
Complaints Rules and Procedure
The Financial Advisory and Intermediary Services Act (herein after refers “FAIS Act”) requires a FSP to maintain an internal complaints resolution system and procedure.
This document explains the procedure, should a client complain about any of the financial services rendered by the FSP. It also sets out the process that the FSP will follow to ensure prompt resolution of the complaint.
This FSP is committed to resolving all complaints in an effective and timely manner by taking investigative steps and promptly replying to the complaint. The aim is to have a fair and practical complaints resolution process.
1. Definition of a Complaint
Section 1(1) of the FAIS Act
Complaint means a specific complaint relating to a financial service rendered by a financial services provider or representative to the complainant on or after the date of commencement of this Act, and in which complaint it is alleged that the provider or representative:
- has contravened or failed to comply with the provision of this Act and that as a result the complainant has suffered or is likely to suffer financial prejudice or damage;
- has willfully or negligently rendered a financial service to the complainant which has caused prejudice or damage to the complainant, or which is likely to result in such prejudice or damage; or
- has treated the complainant unfairly.
2. Complaints Procedure
In terms of FAIS and the General Code of Conduct, this FSP formulated these rules and procedures regarding complaints.
- A complaints register has been implemented.
- Note the complaint in the register and import all data as stipulated in the register.
- The complaint must be lodged in writing with this FSP.
- Acknowledge receipt within 5 (five) days after receiving the complaint and inform the complainant of the details of the designated person who will handle the complaint.
- The designated person must investigate the complaint and determine whether it can be resolved immediately. Communicate with the product supplier if necessary.
- If it can be resolved immediately, inform the client and take steps to rectify.
- If not resolved immediately, inform the complainant of the steps to be taken to investigate and/or resolve the complaint with a time frame. Communicate with the product supplier.
- If not resolved within 4 (four) weeks after the complaint was registered, inform the client in writing thereof and inform him/her of the rights in terms of Rule 6 of the Ombud’s Office:
- The complainant can approach the office of Ombud.
- The complainant has 6 (six) weeks after receiving the notice from this FSP to approach the Ombud with the complaint.
- Approach any other forum to resolve the complaint.
3. How must a complaint be made?
When a client has a complaint against the FSP, it must be submitted to the FSP in writing. The written complaint can be submitted by hand, post, fax or email.
4. Once we receive a complaint
- The FSP will acknowledge receipt within 5 (five) days after receiving the complaint.
- Inform the complainant of the details of the designated person who will handle the complaint.
5. The designated person who will handle the complaint
The complaint may be handled by:
- The Key Individual of the FSP; or
- An employee of the FSP who is skilled in the handling of client complaints.
If the complaint seems to be a more complicated matter, we will be in contact with our compliance officers at Complysure who will then be assisting the designated person in this process.
6. If the matter cannot be resolved internally
If the complaint cannot be resolved immediately the FSP will inform the client in writing of the steps to be taken to investigate and/or resolve the complaint with a time frame.
If the matter is still not resolved within 4 (FOUR) weeks after the complaint was registered, the client will be informed in writing thereof. The client will also be informed of the rights in terms of Rule 6 of the Ombud’s Office:
- The complainant can approach the office of Ombud.
- The complainant has 6 (six) weeks after receiving the notice from this FSP to approach the Ombud with the complaint.
- Approach any other forum to resolve the complaint.
Contact Details
FAIS Ombud
Tel: 012 470 9080 / 012 762 5000
Website: https://www.faisombud.co.za/
E-mail: info@faisombud.co.za
Physical Address: Kasteel Park Office Park, Orange Building, 2nd Floor, c/o Nossob & Jochemus Street, Erasmus Kloof, Pretoria, 0048
Postal Address: P.O Box 74571, Lynnwood Ridge, 0040
Short-Term Insurance Ombud
Tel: 011 726-8900
Website: https://www.osti.co.za/contact/
E-mail: info@osti.co.za
Physical Address: 1 Sturdee Avenue, First Floor, Block A, Rosebank, Johannesburg, 2196
Postal Address: PO Box 32334 Braamfontein, 2017
Long-Term Insurance Ombud
Tel: 021 657 5000 / 021 674 0951
Website: http://www.ombud.co.za/
E-mail: info@ombud.co.za
Physical Address: Third Floor, Sunclare Building, 21 Dreyer Street, Claremont, 7700
Postal Address: Private Bag X45, Claremont, Cape Town, 7735.