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There are so many financial ombudsman services in Canada now that you can't tell them apart without a program.

Seriously. With the opening of the Centre for the Financial Services OmbudsNetwork last week, five agencies are now devoted to protecting the interests of consumers in their relations with banks, brokerages, sellers of mutual funds and insurers.

Centre for the Financial Services OmbudsNetwork (CFSON)

Call: 1-866-538-3766

Web: cfson-crcsf.ca

If you've got a problem with any type of financial company and you're not sure of how to proceed, or even if you have a good case, then call the CFSON. The centre's staff will tell you how the complaints procedure works in various financial sectors, and then give you a referral to the right offices and people.

This could mean a contact at a specific company, or it could mean someone at an industry assistance centre, a regulator or industry-level ombudsman office in the banking/investing, life insurance and property insurance categories.

The centre is an ideal place to call if you have questions about whether a particular industry ombudsman has a dollar limit on the size of claims it will look at, or whether any time limits apply to complaints.

Ombudsman for Banking Services and Investments (OBSI)

Call: 1-888-451-4519/416-287-2877 in Toronto

Web: bankingombudsman.com

Got a problem involving a bank, a brokerage firm or a mutual fund dealer? Then call this ombudsman directly, or get a referral through the CFSON.

This ombudsman service has actually been around for several years as the Canadian Banking Ombudsman. (For now, this name is still used on the Web site and on the phone line.) Though not widely known to consumers, this office has provided an impartial court of last resort for bank clients who couldn't get their disputes resolved by their financial institution.

As with all ombudsman services, the banking and investing ombudsman will take the particulars of your complaint and advise whether it's worth pursuing. If an investigation is done and the finding is in favour of the complainant, then a non-binding recommendation for settlement will be issued.

Financial players that don't follow the recommendation face the possibility that their names will be publicized.

One final note for people who have a difficulty with a broker: The Investment Dealers Association of Canada offers an arbitration plan for disputes involving amounts of up to $100,000. You can reach the IDA at 416-364-6133.

Canadian Life and Health Insurance OmbudService (CLHIO)

Call: 1-888-295-8112/416-777-9002 in Toronto

Web: clhio.ca

The name pretty much says it all: This is the place to take complaints related to life insurance, as well as health insurance products such as critical illness, disability and long-term care. As with the banking/investing ombudsman, CLHIO can make non-binding recommendations that may call for restitution to the complainant.

Given the complexity of life and health insurance, you might want to talk to an expert before launching a complaint. In that case, call the consumer assistance centre operated by the Canadian Life and Health Insurance Association at 1-800-268-8099 (416-777-2344 in Toronto).

General Insurance OmbudService (GIO)

Call: Best to get in contact through CFSON

Web: gio-scad.org

Complaints involving car, home and business insurance can be heard by an independent mediator through this ombudsman office.

Financial Consumers Agency of Canada (FCAC)

Call: 1-866-461-3222

Web: fcac-acfc.gc.ca

If you believe a bank has done you wrong, then call the Ombudsman for Banking Services and Investments. If you think a bank has violated your rights under the law, then call the FCAC.

This federal agency has a two-part mandate -- to make sure financial institutions follow consumer protection legislation, and to educate consumers about how the industry works.

The education function is carried out mainly through a Web site that contains a heap of good information about such things as bank service fees and credit card interest rates.

Before contacting any of the groups listed here, you should try to resolve your complaint with the company involved.

In some cases -- the banks, for example -- this process will require you to deal with an in-house ombudsman.

Over the years, I've heard from dozens of investors and consumers of banking and insurance products who didn't know how to proceed with their complaints. The sad fact is that sometimes there wasn't any agency that could help.

Now, there's somewhere to turn for most complaints likely to arise. That's a huge improvement, even if the system isn't perfected quite yet.
rcarrick@globeandmail.ca