Financial Ombudsman Service Ltd (FOS)
All AFS licensees must be members of an external dispute resolution scheme. One of the most common schemes is the Financial Ombudsman Service Ltd (FOS). FOS independently resolves disputes between member financial services providers and clients.
All AFS licensees have the risk of a disgruntled client making a complaint to FOS. We can help you mitigate this risk by ensuring your internal dispute resolution procedures, which are also a requirement of your AFSL, give you the best chance to resolve any complaints in-house.
Unfortunately, sometimes disputes escalate. If your clients do make a complaint to FOS we can assist you throughout the process, including preparing your submissions. We will quickly evaluate the problem and advise on the best approach. We have helped many clients through their interactions with FOS.
Contact us today to see how we can assist.