Financial Service
The FICS information below covers:
- Financial or Investment advice or advisor
- Funds Manager
- Share transaction or Stockbroker
- Share trading online
Click for complaints about credit providers (including finance companies). Click for superannuation fund complaints. Click for a complaint about a bank. Click for a complaint about a building society. Click for a complaint about a mortgage.
(1) Financial Industry Complaints Service Ltd (FICS)
FICS is the complaint resolution body for the financial services industry in Australia. Its services are free to the public. It will deal with an issue that you have with one of its members on:
- life insurance
- superannuation
- funds management
- financial advice
- investment advice
- sales of financial or investment products
FICS started in 1995 as the Financial Planning Association's Complaints Resolution scheme. From 1 Jan 2000, FICS also includes what was the Financial Services Complaints Resolution Scheme.
Level 18 - 31 Queen St Melbourne 3000
PO Box 579 Collins Street West,
Melbourne 8007
Phone: 1300 780 808 (cost of local call Aust-wide)
Fax: (03) 9621 2291
Email to FICS
Go to FICS web site
How to complain
Your complaint must be in writing, but you can ring for help to put your letter together.
Codes of Practice
The following codes of practice may help you explain your issue -
Life Insurance Code of Practice (on the ASIC site)
Financial Planners' Code of Ethics
(2) Australian Securities and Investments Commission (ASIC)
ASIC will also take your complaint about a financial service, particularly where the issue is about dishonesty, fraud, unfairness or incompetence by people selling, or advising on, investments, superannuation, insurance and banking (except credit - see credit providers).
Phone: National Infoline - 1300 300 630 (Toll free - cost of a local call)
How to complain
ASIC has a form that you can use Complaint Form.
You can send your complaint to your regional office of ASIC (see list below) by fax or by mail. ASIC also has good information about share trading online. Click here.
Queensland
ASIC Qld Regional Office Complaints
Unit GPO Box 9827
Brisbane 4001
Fax: (07) 3867 4725
(4) Advisory Services Guide
Did you know?
All licensed investment advisers are required to be members of FICS (see above) . A licensed investment advisor is also required to give you (at the earliest available opportunity before providing investment advisory services to you) an Advisory Services Guide, including information on complaints handling.
Check here for further information on this Guide.
The Advisory Services Guide must enable you to clearly identify the licensee responsible for the advice; clearly understand the nature of the service you are offered, the method and extent of the charges for that service and your basic rights if you take the service; compare services if you wish; and it must also help you easily access complaint procedures if you are not satisfied with the services given.
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