A web-based complaints management system enabling IFAs of any size to view, track and respond to client grievances or feedback has been launched.
The founders of managemycomplaints.com (MMC) say it improves the speed and accuracy of complaint logging, enabling firms to capture complaints and feedback at the first point of customer contact.
The FSA is in the process of consulting with the industry over whether financial firms should be forced to publish the number of complaints they receive, and how quickly they deal with them.
Last month, a similar ‘name and shame' list was distributed by the Financial Ombudsman Service (FOS), suggesting banks are by far the worst offenders.
Consumers will not use MMC to complain, rather advisers and compliance staff at firms can use it to view client grievances whether received via phone, letter, fax or email.
"Complaints have never been higher on the agenda in financial services," MMC marketing manager Andrew Aldred says.
"Previously, it was wrongly assumed that only the big banks and the largest IFAs could afford a specialist customer complaint management solution and benefit from tracking and handling customer feedback.
"However, it is essential that all businesses - whatever the size - are adhering to best practice in terms of dealing with complaints."
Advisers can receive a free trial. MMC costs about £50 per month, dependant on the number of people within a firm using it. For more information, click here.
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