INVESTOR COMPLAINTS
Most of the 20-million individual shareholders who deal directly with investment professionals seldom have cause to complain. However, when a customer has a complaint or believes that his/her account has been mishandled, it is vital that the complaint be handled fairly, efficiently and effectively. The public's trust and confidence in our financial markets depends on it. Moreover, an investment professional's livelihood rests on the continued business of satisfied customers. The Best Practices recommended in this area are:
- Prompt acknowledgment upon receipt of a written customer complaint.
- A review and evaluation of the complaint by a qualified representative of the firm.
- A response within a reasonable period of time that addresses specific concerns raised in the customer's letter.
- A designated person to whom the customer can submit new information regarding the complaint.
For more information on Best Practices, please contact Don Kittell.
(Adopted by the Board on July 17, 1996.)
