If something goes wrong in your relationship with your adviser, make sure you know what to do. Do you want your adviser to fix a mistake? Apologize? Pay you back? Here's how to get help.
Three steps to make a complaint
- Talk to your adviser and his or her manager. Most of the time they can clear complaints up quickly. However, if that doesn't work, don't give up. There are other places to go for help.
- Write a letter to your adviser or to the branch manager where the adviser works about your concerns. You can also write a letter to the company's compliance officer. If you don't hear back soon, call to make sure the person got your letter.
- If you're still not happy, talk to someone in the industry. Contact the ombudsman for Banking Services and Investments to find out where to direct your complaint. You can phone them for help at no cost at 1-888-451-4519.
For more information, read these step-by-step instructions for making a complaint from the Ontario Securities Commission.
Remember: It's easier to get help when you have good records
Take good notes whenever you talk to your adviser. Also, keep everything your adviser gives you in a safe place. Then you can easily find your records if you ever need them.
Content in this section is provided in partnership with the Investor Education Fund, a non-profit organization promoting financial literacy to Canadians. To find out more go to GetSmarterAboutMoney.ca.